The Bank of Canada raised interest rates again on Wednesday and released new projections that suggest it will take longer to get inflation back to two per cent. The central bank hiked its key interest rate by a quarter of a percentage point, bringing it to five per cent. Forecasters were widely anticipating the central […]
The Bank of Canada announced a quarter-percentage point rate hike Wednesday, the first interest rate increase since January, as high inflation persists. The central bank announced a pause earlier in January. Its key interest rate now sits at 4.75 per cent, the highest it’s been since 2001. “Based on the accumulation of evidence, governing council […]
Farm Credit Canada (FCC) is offering support to producers who are facing financial difficulties, including cash flow challenges due to higher-than-average input costs and elevated interest rates. FCC is offering an unsecured credit line up to $500-thousand with loan processing fees waived. Elan Rolufs, Senior District Director with FCC, says it’s available to any producer, […]
The Bank of Canada announced today that it will continue to hold its key interest rate steady at 4.5 per cent, as was widely anticipated by economists. The central bank says recent data is reinforcing its confidence that inflation will continue to fall in the coming months. Canada’s annual inflation rate fell to 5.2 per […]
Employment in Canada rose slightly last month after January’s jobs report raised eyebrows among economists anticipating a slowdown in the labour market this year. In its labour force survey Friday, Statistics Canada said the economy added 22,000 jobs in February, with employment up in the private sector. The federal agency said the country’s unemployment rate held steady at five […]
The Bank of Canada is holding interest rates steady for the first time in a year. The central bank says based on the assessment of recent economic data, the key rate will remain at 4.5 per cent. However, it is keeping the door open to further rate hikes if the economy or inflation run hotter than expected. Recent data shows inflation slowed […]
The Bank of Canada is raising its key interest rate by a quarter of a percentage point and says it expects this to be the last rate hike of the cycle. Today’s interest rate increase marks the eighth consecutive rate hike since March as the central bank fights off decades-high inflation. Its key interest rate […]
Canada’s annual inflation rate slowed to 6.3 per cent in December as the cost of groceries remained high and gas prices cooled. In its latest consumer price index released Tuesday, Statistics Canada said Canadians continued to see prices soar at grocery stores last month compared with a year ago. Grocery prices were up 11 per cent on […]
The Canadian economy added 104,000 jobs in December as the unemployment rate fell slightly to 5.0 per cent, Statistics Canada said Friday. This marks the third decline in the unemployment rate in fourth months, edging it closer to the record-low of 4.9 per cent reached in June and July. In its latest labour force survey, the federal agency said […]
Interest rate hikes have reached their highest point according to the chief economist at Regina-based Farm Credit Canada. FCC chief economist J.P. Gervais forecasts interest rate hikes have plateaued. But he doesn’t expect any reduction in rates early in the new year, and feels the rates will remain at the current level for most […]
