Most forecasters expect Governor Tiff Macklem expected to leave central bank’s key lending rate at 4.5 per cent.
The Bank of Canada reveals Wednesday morning whether it will continue to hold the line on interest rates.Investors seem to agree, with trading on the overnight swaps market indicating less than a 10 per cent chance of a change.
At the same time as its 10 a.m. rate announcement, the Bank will also unveil its latest Monetary Policy Report, a detailed look at national and global economic trends followed by an 11 a.m. press conference with bank governor Tiff Macklem. Last March, the bank began an aggressive rate-hike campaign in a bid to drive down inflation, pushing the overnight rate to 4.5 per cent from 0.25 per cent. came with a statement from Macklem that it was pausing hikes — at least for the moment.
The theory is that by making it more expensive to borrow money, consumers — and businesses — will spend less, which will drive prices down.While that’s substantially lower than the 8.1 per cent it peaked at last June, it’s still above the bank’s target of two per cent.
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.
Bank of Canada expected to hold interest rate this weekThis likely decision comes as economy keeps some steam
Read more »
Majority of economists expect Bank of Canada to keep key interest rate steady through 2023Markets still expect more than 50 basis points of cuts, pricing fuelled by fears last month over stresses in the U.S. and European banking sector
Read more »
Full impact of past Bank of Canada interest rate hikes not yet seen: expert - BNN BloombergThe Bank of Canada is widely expected to keep interest rates on hold Wednesday as a string of aggressive hikes has yet to be fully reflected within the economy, one expert says.
Read more »
Bank of Canada expected to hold key interest rate steady at 4.5% todayThe Bank of Canada is set to announce its interest rate decision this morning.
Read more »
Economists, Bank of Canada say Canada 'not immune to spillovers' amid recent banking turmoilThe Bank of Montreal's chief economist Doug Porter says markets are 'incredibly good' at discovering areas of weakness, and that he 'wasn’t sure we’ve seen the end of this.'
Read more »
Ottawa is offering a 25-year, high-interest GIC: It's called the Canada Pension PlanThe decision on when to apply for CPP becomes clearer when you think of it as an investment, not income, says Jason Heath. Find out more.
Read more »