The Bank of Canada is warning that the downturn tied to COVID-19 will be the worst on record and that the economic recovery will depend on the effectiveness of current measures to bring the pandemic under control. The pandemic has forced companies to close and workers to stay at home as much as possible in […]
The Bank of Canada cut its key interest target by half a percentage point to 0.25 per cent in an unscheduled rate announcement Friday. The central bank said its decision to lower rates is aimed at cushioning the economic shocks from COVID-19 and a sharp drop in oil prices by easing the cost of borrowing. […]
The Bank of Canada is cutting its overnight rate target by half a percentage point to 0.75 per cent in response to COVID-19. The central bank said Friday the unscheduled rate decision was due to the pandemic and its impact on the economy, adding that lower oil prices, even since its last scheduled rate decision […]
There has been a lot of buzz about negative interest rates lately, as the idea that you would have to pay governments to borrow your money seems to turn the very foundation of finance on its head. But that is exactly what is happening right now for trillions of dollars in the world’s bond markets. […]
The Bank of Canada is keeping its key interest rate target on hold at 1.75 per cent and forecasting a slower-than-expected start for the Canadian economy in 2020. The central bank says in its latest forecast that the Canadian economy will grow by 1.6 per cent this year, down 0.1 of a percentage point from […]
The Canadian economy remains resilient despite the global uncertainty caused by the trade war between the United States and China, a senior Bank of Canada official said Thursday. In a speech to the Ottawa Board of Trade, deputy governor Timothy Lane said inflation in Canada remains on target and a strong job market points to […]
The Bank of Canada kept its key interest rate on hold Wednesday, leaving the country as an exception compared to other advanced economies that have begun to respond to a weakening global economy. In its explanation, the central bank argued that inflation is on target and the domestic economy has held up well in many […]
The Bank of Canada is holding steady on interest rates as it gauges the extent of the damage that deepening trade conflicts have had on the domestic and global economies. The rate decision Wednesday, which was widely expected, kept the central bank’s overnight rate at 1.75 per cent and followed a solid second-quarter rebound for […]
The U.S. Federal Reserve is widely expected to cut its interest rate Wednesday for the first time in over a decade — a big step, though one unlikely to pull Canada’s central bank out of its holding pattern any time soon. The Bank of Canada sent signals earlier this month that the Canadian economy is […]
Earlier this week, the Bank of Canada announced it’s maintaining the target for the overnight rate at 1.75 per cent. “As expected, the Bank of Canada kept the target rate unchanged at 1.75 per cent,” said Randall Malcolm, senior managing director at Sun Life Investment Management, in a statement. “The [Bank of Canada’s] statement surprised […]