ICYMI: Bank of Canada hikes interest rate to 3.25% — via financialpost BoC interestrate inflation ratehike
. “The effects of COVID-19 outbreaks, ongoing supply disruptions and the war in Ukraine continue to dampen growth and boost prices.”Article content
This fifth consecutive hike comes as the Canadian economy’s momentum is starting to slow, with growth coming in at just 3.3 per cent in the second quarter, a figure the Bank admitted was weaker than projected. However, the central bank also pointed to stronger indicators of domestic demand as consumption grew by roughly 9.5 per cent and business investment rose nearly 12 per cent.Article content
“Expect to see the effects of restrictive policy showing up more clearly this fall and winter, giving the central bank the greenlight to pause rate hikes,” Mendes wrote last week, adding that the economic impacts seen from rising rates so far were only the tip of the iceberg.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canadian banks raise prime rates after Bank of Canada hikeRBC, TD Bank, CIBC, Scotiabank, BMO and National Bank raised their prime lending rates by 75 basis points to 5.45%. Find out more
Read more »
Canadian banks raise prime rates after Bank of Canada hikeRBC, TD Bank, CIBC, Scotiabank, BMO and National Bank raised their prime lending rates by 75 basis points to 5.45%. Find out more
Read more »
Canadian banks raise prime rates after Bank of Canada hikeRBC, TD Bank, CIBC, Scotiabank, BMO and National Bank raised their prime lending rates by 75 basis points to 5.45%. Find out more
Read more »
Canadian banks raise prime rates after Bank of Canada hikeRBC, TD Bank, CIBC, Scotiabank, BMO and National Bank raised their prime lending rates by 75 basis points to 5.45%. Find out more
Read more »
Canadian banks raise prime rates after Bank of Canada hikeRBC, TD Bank, CIBC, Scotiabank, BMO and National Bank raised their prime lending rates by 75 basis points to 5.45%. Find out more
Read more »
Canadian banks raise prime rates after Bank of Canada hikeRBC, TD Bank, CIBC, Scotiabank, BMO and National Bank raised their prime lending rates by 75 basis points to 5.45%. Find out more
Read more »