The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Dec 6 - The Bank of Canada will slash interest rates by a half percentage point at a second consecutive meeting on Dec. 11, according to a majority of economists polled by Reuters, many of whom changed their view on news of a sharp rise in unemployment.
Nearly 80% of respondents, 21 of 27, predicted the Bank to cut the overnight rate by 50 bps on Dec. 11 to 3.25%. The rest forecast a quarter-point reduction. Inflation rose to the 2.0% central bank target in October, the first rise in the annual rate since May, but that was in line with the BoC's recent predictions. Signs of improvement in parts of the economy suggest there is a risk it rises further.James Orlando, senior economist at TD, noted that when the BoC stepped up its rate-cutting pace to 50 bps in October, there were concerns at the time that it was behind the curve with both growth and inflation undercutting expectations.
Gold Silver Platinum Palladium PGM Platinum Group Metals Metals Precious Metals Mining News Crypto News Bitcoin News Ethereum News Mining News Interviews Economic Reports Forecasts Central Banks US Dollar Charts Tech Metals Rare Earth Metals Currency Global Economy International Policy Politics Bank Forecasts Market Nugget Mining Minutes Roundups
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.
Former Bank of Canada Governor Claims Canada in Recession Despite Lack of Consecutive Negative GDP QuartersStephen Poloz, former governor of the Bank of Canada, asserts that Canada is in a recession despite not meeting the technical definition of two consecutive quarters of negative GDP growth. Poloz attributes the lack of a technical recession to increased spending by new immigrants, while noting Canadians are spending less due to rising costs of living.
Read more »
Canada's GDP Growth Below Bank of Canada ForecastNew data from Statistics Canada shows Canada's GDP grew by 0.1 percent in August, September, and October, leading to a 1 percent growth for the quarter, below the Bank of Canada's forecast of 1.5 percent. This has increased the likelihood of a larger interest rate cut by the central bank next month.
Read more »
Bank of Canada's Interest Rate Cuts Could Spark Mortgage Competition in CanadaThe Bank of Canada has initiated interest rate cuts, shifting the mortgage market outlook for 2025. As borrowing costs drop and fixed-rate loans come up for renewal, Canadian banks are expected to engage in a mortgage competition, following a year of subdued loan growth.
Read more »
Team Canada athletes coming to the House on Dec. 4The Hill Times
Read more »
Reasons why the bank of Canada might not keep cutting rates aggressivelyDaily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
Read more »
Tbaytel staff give back through 12 Days of Christmas campaignThese giveaways and events run from Dec.1 to Dec. 12.
Read more »