#bank-of-canada
#bank-of-canada

Some consumers, businesses are feeling more optimistic about the economy, say BoC surveys | CBC News

Business and consumer sentiment improved despite higher interest rates.

Expectations of interest rate cuts are driving optimism for sales and economic outlook. [ more ]

www.cbc.ca

4 months ago

Mortgage holders say they can make higher payments as Canadians cut spending: survey | CBC News

Canadians are cutting back on spending in response to higher borrowing costs and rising prices.

Mortgage holders remain confident in their ability to make higher payments when their mortgages are renewed at higher rates. [ more ]

www.cbc.ca

Bank of Canada holds key interest rate at 5% again | CBC News

Bank of Canada maintains key interest rate at five percent.

Inflation expected to stay close to three percent before slowly easing. [ more ]

www.cbc.ca

No change on interest rate as Bank of Canada sticks to 5% | CBC News

The Bank of Canada has announced that its benchmark interest rate will remain at five percent.

This is the fourth time in a row that the interest rate has remained unchanged. [ more ]

www.cbc.ca

Tiff Macklem says 2024 will be a transition year for economy, too soon to consider rate cuts | CBC News

Bank of Canada governor expects 2024 to be a transition year as higher interest rates slow down the economy

Higher borrowing costs will restrain spending and limit growth and employment [ more ]

www.cbc.ca

Surge in newcomers putting pressure on inflation via housing demand: BoC official | CBC News

The surge in newcomers in Canada is contributing to inflation through increased housing demand.

The lack of housing supply is causing rental and home prices to rise. [ more ]

www.cbc.ca

As expected, Bank of Canada holds interest rate steady at 5% | CBC News

The Bank of Canada has decided to keep its benchmark interest rate steady at five percent.

The bank has been signaling that it may be nearing the end of its rate hiking cycle due to a slowdown in the Canadian economy. [ more ]

WSJ

Bank of Canada Keeps Rates Unchanged, Cites Progress on Cooling Inflation

Bank of Canada keeps policy interest rate unchanged at 5%

Central bank ready to raise rates if necessary [ more ]

WSJ

6 months ago

Bank of Canada to Cut Rates Deeply Due to Drag From Mortgage Renewals

Desjardins Securities predicts that the Bank of Canada will need to cut its policy rate faster and deeper than financial markets expect due to a drag on spending from pending mortgage renewals.

Desjardins economist Royce Mendes forecasts that the BOC will cut interest rates by 1.5 percentage points in 2024 to 3.5%, and to 2.25% in 2025.

Canada will struggle to achieve above-trend growth until 2027 due to the impact of mortgage renewals on household consumption. [ more ]

www.cbc.ca

6 months ago

1st batch of newly minted Canadian coins bearing King Charles's image unveiled | CBC News

The first Canadian coins featuring the face of King Charles were unveiled in Winnipeg on Tuesday.

The mint showcased the image of the monarch that will appear on one side of all its coins, replacing the image of the late Queen Elizabeth II.

The federal government directed the mint and the Bank of Canada to replace the image of the late Queen with one of the King on coins and on the $20 bill. [ more ]

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www.cbc.ca

1 month ago

Bank of Canada holds key interest rate at 5% | CBC News

Bank of Canada maintains 5% interest rate for the sixth consecutive time.

Expectations of the first rate cut during the June 5 meeting. [ more ]

www.cbc.ca

1 month ago

The Bank of Canada expects it will cut rates this year, but officials are split on the timing | CBC News

Bank of Canada considers cutting interest rates this year, but officials disagree on timing

Members of governing council have varying views on conditions and timeline for interest rate cuts [ more ]

www.cbc.ca

2 months ago

Canadian economy not in recession, but 2023 was one of its weakest recent years | CBC News

Canadian economy expanded at 1% in Q4 driven by exports, while housing and business investment fell.

Business insolvencies rose 41% in 2023 due to pandemic debt and high interest rates affecting consumer finances. [ more ]

www.cbc.ca

January home sales jump 22 per cent from last year's weak start | CBC News

January home sales in Canada saw the largest year-over-year increase since May 2021, reflecting weakness in the housing market last year.

Market sentiment has been buoyed by the prospect of Bank of Canada rate cuts and a drop in fixed mortgage rates, but the central bank is not expected to cut rates in time for the spring.

The national average home price in January was $659,395, up 7.6% from January 2023, and the number of newly listed properties increased by 1.5% month over month. [ more ]

www.cbc.ca

High interest rates aren't to blame for housing crisis, Bank of Canada governor says | CBC News

The Bank of Canada governor says interest rates cannot solve the housing crisis due to a supply shortage.

Increasing housing supply is necessary to improve affordability, while policies that increase demand will worsen the situation. [ more ]

www.cbc.ca

ANALYSIS | Why the central bank won't circle a date for interest rate cuts | CBC News

The Bank of Canada has left its key overnight lending rate unchanged at five percent, citing concerns about underlying inflation and the need to maintain elevated rates.

Economists expect the central bank to start lowering interest rates by the summer, with predictions of a quarter-point cut in June and a total of 150 basis points in cuts by the end of the year. [ more ]

www.cbc.ca

Bank of Canada says government efforts to curb housing crisis will help 'gradually' | CBC News

Record levels of immigration are driving up the cost of housing in Canada.

Efforts to cut the number of non-permanent residents and encourage home building will only gradually help lower housing costs. [ more ]

WSJ

Expectations for Rate Cut in Canada Drift Further Out

Inflation data in Canada is expected to support a hold on the Bank of Canada's policy rate and delay a potential interest rate cut in April.

Rent and mortgage interest costs are major contributors to core inflation in Canada. [ more ]

WSJ