The Bank of Canada hiked its key interest rate yet again on Wednesday morning, bringing it to 3.75 per cent and continuing one of the fastest monetary policy tightening cycles in its history amid warning signs of a potential recession. Here’s how we got here: Oct. 24, 2018: The Bank of Canada’s key interest rate […]
The Bank of Canada is raising its key interest rate by three-quarters of a percentage point today. The rate hike matches up with what many economists were expecting, bringing the bank’s key rate to 3.25 per cent. In the rate announcement, the Bank of Canada says global inflation remains high while the Canadian economy continues […]
Canada’s year-over-year inflation rate slowed to 7.6 per cent in July, with the deceleration largely driven by a decline in gas prices. The inflation rate hit a nearly 40-year-high of 8.1 per cent in June, but economists were widely expecting inflation to have since slowed. In its latest consumer price index report, Statistics Canada said […]
With the federal government trying to pump the brakes on inflation through interest rate hikes, housing sales remain pretty strong in Saskatchewan. “As expected, gains in lending rates are having some cooling impacts on the housing market causing consumers to seek out more affordable options.” according to Chris Guérette, CEO of Saskatchewan Realtors Association. […]
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 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 […]
