It's decision day for Tiff Macklem and the Bank of Canada, with the central bank widely expected to increase its benchmark interest rate for the eighth straight meeting, albeit by a more typical quarter of one per cent.
to increase its benchmark interest rate for the eighth straight meeting, albeit by a more typical quarter of one per cent. That would bring the key rate to 4.5 per cent – a rather dramatic rise from the pandemic era emergency low of 0.25 per cent just a year ago – though the big question becomes whether Macklem & Co. hit the pause button after this rate increase as signs emerge of price pressures beginning to ease.
that softer economic conditions will weigh on growth in the year ahead. CN Rail is expecting earnings per share growth to come in at a low-single digit range in fiscal 2023 due to those macroeconomic conditions, though it's worth noting the company did report results that topped analyst estimates in the fourth quarter. To get into those Q4 results briefly – revenues were up 21 per cent as the company got a boost from higher freight rates.
Shares of Microsoft are lower in the premarket – down about three per cent – after the company warned revenue in its cloud-computing division will slow in coming months. Panamanian Minister of Commerce Federico Alfaro Boyd says the Central American country is prepared to face arbitration with First Quantum Minerals in the tax dispute over the miner's Cobre Panama mine.Notable earnings: Abbott Laboratories, Boeing, AT&T, Kimberly-Clark Corp., AGF Management, Celestica, CSX Corp.
The House of Common's industry and technology committee will re-examine Rogers Communications proposed takeover of Shaw Communications
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 to release policy meeting minutes for first time in its historyThe Bank of Canada will release meeting minutes of interest rate deliberations after its governor promised more transparency. Read on.
Read more »
Former Bank of Canada senior deputy governor to brief Trudeau cabinetJustin Trudeau and his ministers gathered in Hamilton, Ont. on Monday for a three-day cabinet retreat ahead of Parliament’s return next week
Read more »
Canadian dollar steadies as traders shirk risk ahead of Bank of Canada rate decisionCanadian dollar pulls back from 10-day high ahead of central bank’s rate decision
Read more »
Why the Bank of Canada should hike interest rates this weekJob and inflation numbers indicate a soft landing is within reach but policymakers should resist the temptation to relax restraint. Read on.
Read more »
Posthaste: What another Bank of Canada hike would mean to borrowers and the housing marketBank of Canada is expected to raise interest rates again. What does this mean to Canadian borrowers and the housing market. Find out
Read more »
Posthaste: What another Bank of Canada hike would mean to borrowers and the housing marketBank of Canada is expected to raise interest rates again. What does this mean to Canadian borrowers and the housing market. Find out
Read more »