By Staff The Canadian Press Posted October 3, 2023 8:55 am Decrease article font size Increase article font size Bank of Canada deputy governor Nicolas Vincent reveals that businesses are presently more inclined to increase their prices and in larger amounts compared to the pre-pandemic period. This ongoing trend is a major contributor to the …
By Staff The Canadian Press Posted September 29, 2023 7:25 am Decrease article font size Increase article font size Statistics Canada will release its figures for the start of the third quarter today, providing insights into the economy. The agency will report real gross domestic product numbers for July. Earlier estimates for July suggested that …
Stubborn inflation may not necessitate another interest rate hike, but it could result in the Bank of Canada maintaining its policy rate at a higher level for a longer duration, as indicated by new forecasts released this week. An updated economic outlook from Deloitte Canada, published on Thursday, reveals a more challenging path for gross …
Descrease article font size Increase article font size The annual rate of inflation picked up again in August, rising to four per cent, according to Statistics Canada. Economists had largely expected the increase, as gasoline prices pushed inflation higher. Statistics Canada attributed some of the inflation at the pumps to the base-year effect — the …
Statistics Canada revealed that higher interest rates are discouraging borrowing among Canadians, although increases in income are helping to offset the impact of higher debt-servicing costs. According to Statistics Canada, in the second quarter, the ratio of credit market debt to household disposable income decreased to $1.81 from $1.84 in the first quarter of 2023. …
Bank of Canada Governor Tiff Macklem reaffirmed the central bank’s independence and defended its interest rate decisions in response to recent political commentary. Macklem expressed confidence in the Bank of Canada’s ability to fulfill its mandate of controlling inflation, emphasizing that maintaining independence is crucial. The Bank’s decision to hold its benchmark interest rate steady …
The Bank of Canada’s Inflation Target in Sight, but Additional Rate Hikes May Be Needed The head of the Bank of Canada, Tiff Macklem, addressed the Calgary Chamber of Commerce on Thursday, stating that the central bank’s goal of achieving a two per cent inflation rate is “now in sight.” However, he cautioned that persistent …
According to a new survey released by Re/Max Canada on Tuesday, Canada’s housing market could experience a slowdown this fall as potential buyers and sellers wait to see what the Bank of Canada does with interest rates. The report suggests that home prices will remain stagnant from August until the end of the year due …
Two Premiers Urge Bank of Canada to Halt Interest Rate Hikes Ontario Premier Doug Ford and British Columbia Premier David Eby have both sent letters to Bank of Canada Governor Tiff Macklem, urging the central bank to halt interest rate hikes leading up to its next rate decision on Wednesday. Premier Ford expressed concern over …
Economists are warning that the recent surge in the annual rate of inflation could be a cause for concern at the Bank of Canada. According to Statistics Canada, annual inflation rose to 3.3% nationally in July, exceeding the central bank’s target range of one to three percent. This is up from June’s inflation rate of …