After eight consecutive rate increases, central bank officials believe they’ve done enough to get inflation back under control
growth remains well above the bank’s target. But there are increasing, if conflicted, signs that higher borrowing costs are having their intended effect: slowing the economy and weighing on price growth.
A pause this week would make the Bank of Canada the first major central bank to stop increasing interest rates. That would put it on a different trajectory than the U.S Federal Reserve, whose officials expect to raise rates several more times. There have been moments since the January rate decision at which the Bank of Canada’s pledge to pause rate hikes looked premature. Two weeks after the announcement, Statistics Canada published a blockbuster jobs report showing that the labour market added 150,000 positions in January, 10 times Bay Street’s consensus estimate, while the unemployment rate held steady at 5 per cent.
The January inflation numbers were also more mild than expected. The consumer price index rose 5.9 per cent year-over-year, down from 6.3 per cent in December and below the Bay Street estimate of 6.1 per cent. Inflation measures that capture more recent price trends show underlying inflation running at between 3 per cent and 3.5 per cent.
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Participants, Boxing Canada thrilled to have female boxing part of Canada Winter Games in P.E.I. | SaltWire“It’s a huge, significant moment for boxing in this country. It is nice to see our sport moving towards gender equity,” said Boxing Canada president Ryan O’Shea.
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CANADA: Charmaine Crooks appointed Canada Soccer's interim presidentThe beleaguered governing body, under the microscope for its ongoing labour battle with the Olympic champion women and resurgent men's team, named Crooks its interim president on Wednesday. She faces a busy calendar and uncertain landscape
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CANADA: Charmaine Crooks appointed Canada Soccer's interim presidentThe beleaguered governing body, under the microscope for its ongoing labour battle with the Olympic champion women and resurgent men's team, named Crooks its interim president on Wednesday. She faces a busy calendar and uncertain landscape
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High-end department store Nordstorm departing Canada, leaving anchor space in Rideau Centre vacantIn Ottawa, the move will leave anchor space in the Rideau Centre shopping centre vacant.
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New ranking puts Canada among countries with the most-attractive people on earthCanada seems to be known for a lot things when presented on the world stage; things like maple syrup, publicly-funded healthcare, cool banknotes, T...
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