The central bank announced another oversized interest rate hike on Wednesday – raising its policy rate by one percentage point to 2.5 per cent. Here’s everything we know about the latest interest rate increase and what it means for taming inflation
As monetary policy tightens quickly, global investors are betting that a recession will follow, which has led to a selloff in stock markets and lower prices for commodities, such as crude oil., starting in 2023. RBC economists Nathan Janzen and Claire Fan tempered their prediction by saying it would be a “moderate and short-lived” recession.
In fact, inflation is becoming impossible to avoid, with more than half of the components of the consumer price index rising at an annual rate of more than 5 per cent in May. That’s aggravating cost-of-living concerns for many Canadians. Also, higher rates make it more expensive for businesses and households to borrow money.. Commodity prices have dropped in recent weeks and transportation costs have fallen from record highs.
compared to last year. The typical Toronto home price is down nearly 10 per cent from the March peak to June.this year.
South Africa Latest News, South Africa 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 raise key interest rate by 0.75% WednesdayThe Bank of Canada will make its key interest rate announcement this morning as inflation remains well above its target. Many economists are forecasting the central bank will raise interest rates by three-quarters of a percentage point.
Read more »
Bank of Canada expected to raise key interest rate by 0.75% todayThe Bank of Canada will make its key interest rate announcement this morning as inflation remains well above its target.
Read more »
How This Week's 0.75% Bank of Canada Hike Will Impact BorrowersBuckle up, borrowers: interestrates are set for their largest one-time surge since 1979. Here's what you need to know. mortgagerates realestatenews cdnpoli
Read more »
Posthaste: What a Bank of Canada 0.75% rate hike would mean for mortgages and indebted CanadiansSignals have been piling up that the Bank of Canada will hike rates by 75\u002Dbasis\u002Dpoint hike this week. Find out more
Read more »
'Behind the curve' Bank of Canada tees up super-sized 75 basis point hikeThe central bank is on a campaign to cool an overheated economy and rein in soaring inflation. Read more here.
Read more »
'Behind the curve' Bank of Canada tees up super-sized 75 basis point hikeThe central bank is on a campaign to cool an overheated economy and rein in soaring inflation. Read more here.
Read more »