Canada’s inflation rate fell from its near 40-year high of 8.1 per cent in June to 7.6 per cent in July, Statistics Canada said Tuesday. The easing was largely attributable to gas prices, which have dropped in recent weeks, but similar relief has not extended to food costs. The latest consumer price index data showed […]
The Bank of Canada raised its key interest rate by a full percentage point on Wednesday, marking the largest single rate hike since August 1998. The central bank’s decision signals a more aggressive approach to bringing skyrocketing inflation back down to its target of two per cent. Inflation reached a 39-year-high of 7.7 per cent […]
The Bank of Canada announced today that it is raising it’s key interest rate to 1.5%. Canadian families are facing an increase in costs across all fronts – and it’s something that 620 CKRM financial analyst Brian Golly says will see families having to tighten spending. The rise in the interest rate was not something […]
The Bank of Canada kept its key interest rate on hold Wednesday as it said the country’s economy won’t recoup the losses from COVID-19 until 2022, with the road to recovery dependent on the path of the pandemic. In July, the Bank of Canada said it believed the country had been spared from a worst-case […]
The Bank of Canada is referring to what it calls an extremely uncertain economic outlook due to the COVID-19 pandemic. The central bank announced Wednesday morning that it is holding its key interest rate at a quarter of one per cent as expected. It is predicting the economy to contract by 7.8 per cent this […]
The Trudeau Liberals say they expect nearly two million Canadians to remain without jobs this year as the COVID-19 pandemic drags down the domestic economy and federal aid sends the deficit to a historic $343.2 billion. The economic and fiscal “snapshot” from the government today lays out the Liberals’ belief that there will be a […]
The Bank of Canada is keeping its key interest rate target on hold at 0.25 per cent, saying this morning that it is effectively as low as it can go to combat the economic impacts of COVID-19. The central bank says the downturn tied to COVID-19 will be the worst on record. Preliminary data from […]
The Bank of Canada slashed its key interest rate target by half a percentage point, dropping it to 1.25 per cent in what economists saw as a rapid response to the growing economic shock from the novel coronavirus outbreak. The central bank said Wednesday that it cut its target for the overnight rate because COVID-19, […]
