The European Central Bank cut its key interest rate Thursday by a quarter-point, moving ahead of the U.S. Federal Reserve as central banks around the world lean toward lowering borrowing costs -- a shift with far-reaching consequences for home buyers, savers and investors.
President of European Central Bank Christine Lagarde attends a press conference after a meeting of the ECB's governing council in Frankfurt, Germany, Thursday, June 6, 2024.
With inflation coming down but taking its time to reach levels central bankers like, the question now is, how soon, how fast and how deep future rate cuts from the Fed, the ECB and others will be. The ECB's move represents a switch from the onset of the inflation surge, when the Fed took the lead in tightening credit by raising rates starting in March 2022, sending mortgage costs higher but also boosting returns for savers with money in certificates of deposit or money market funds. The ECB started four months later.
The inflation surge in Europe was unleashed first and foremost by Russia cutting off most natural gas supplies to the continent, and by logjams in supplies of raw materials and parts as the global economy rebounded from the COVID-19 pandemic. Although the eurozone was hit first and hardest by the Russian cutoff, the resulting energy price spike has now largely subsided after spiking to 10.6 per cent in October 2022.
Canadians are three times more likely to prefer someone other than Prime Minister Justin Trudeau to lead the Liberals in the next election, a new Nanos Research survey for CTV News shows.A new institute is in the works that would track Indigenous economic prosperity in Canada by collecting data on population, businesses, land and resources. The First Nations University of Canada announced Thursday that it will set up the centre with help from two foundations.
If you're wondering how much your car is worth, or how much to pay for that car you're thinking of buying, there's a good chance you'll check KBB.com.Toyota Chairman Akio Toyoda apologized Monday for massive cheating on certification tests for seven vehicle models as the automaker suspended production of three of them.
Lanny McDonald and a few old Flames take the Stanley Cup on a surprise visit to the man who saved his life Man sentenced to life in prison, no chance of parole for 13 years after Montreal teen's fatal stabbing As construction season ramps up in Winnipeg, the Canadian Federation of Independent Business is calling on the city to provide support to those businesses that are impacted by the work and corresponding road closures.Sask. Teachers’ Federation, gov't searching for path forward following impasse, reinstating job sanctions
Sask. Teachers’ Federation, gov't searching for path forward following impasse, reinstating job sanctions
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