The Bank of Canada (BoC) will leave interest rates on hold on Wednesday as the economy stalls, analysts said, though many see the central bank warning that...
OTTAWA - The Bank of Canada will leave interest rates on hold on Wednesday as the economy stalls, analysts said, though many see the central bank warning that future hikes are still possible with inflation hovering well above its 2% target.
The BoC has hiked its key overnight rate 10 times since March of last year to fight inflation, which peaked at over 8%. Inflation in Canada unexpectedly slowed to 3.8% in September, down from 4.0% in August. In July, it said inflation would stay above target until mid-2025 and growth would stall. Earlier this month, BoC Governor Tiff Macklem said the economy was not heading for a "serious recession".
Money markets had priced in a 43% chance for a hike on Wednesday before last week's inflation data came in. By Friday they had trimmed that to a 13% chance.Trump Asked Melania To Don A Bikini For His Buddies, Insider Claims Many Republicans 'couldn't stand' Jim Jordan but still backed his speakership bid because they were 'too scared' to nominate others, Kinzinger says
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