A Timeline of Bank of Canada Rate Hikes Introduction The Bank of Canada has been on a rate-hiking spree over the past year and a half, raising interest rates from a low of 0.25 per cent in March 2022 to the current rate of five per cent. However, with inflation showing signs of trending downward […]
The Bank of Canada Expected to Hold Key Interest Rate Steady Amid Slower Economic Growth Introduction OTTAWA — The Bank of Canada is expected to keep its key interest rate unchanged this week as the Canadian economy grapples with higher interest rates and a downward trend in inflation. Despite the central bank’s previous indication that […]
Annual price growth hits lowest level since June 2021 The Impact of Gasoline Prices on Inflation Despite the continued surge in mortgage interest costs and steady food price growth, Canada‘s inflation rate experienced a decline in May, reaching its lowest level since June 2021. Statistics Canada reported that the annual inflation rate came in at […]
Annual Inflation Rate Drops, but Bank of Canada May Still Consider Rate Hike The annual rate of inflation in Canada dropped sharply last month, but some economists argue that this slowdown might not be enough to deter the Bank of Canada from considering another interest rate hike in July. According to Statistics Canada, the annual […]