The Bank of Canada raised its key interest rate by half a percentage point on Wednesday, bringing it to 3.75 per cent.
Since March, the central bank has raised its key interest rate six consecutive times, bringing it from 0.25 per cent to 3.75 per cent in one of the fastest monetary policy tightening cycles in its history.Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails.
“That could be risky in the sense that it could weaken the Canadian dollar even more than it is right now,” Nguyen said. “That could fuel inflation even further, because it makes anything that is imported from the U.S. to Canada more expensive.”Article content The Bank of Canada said the Canadian economy continues to operate with significant excess demand while businesses face widespread labour shortages.Article content
“This suggests that a couple of quarters with growth slightly below zero is just as likely as a couple of quarters with small positive growth,” the bank said. March 4, 2020: The Bank of Canada cut its key interest rate by half a percentage point to 1.25 per cent amid economic concerns stemming from COVID-19, just days before the World Health Organization declared a global pandemic.
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Bank of Canada expected to raise interest rates on Wednesday as recession fears grow - BNN BloombergEven as warnings about a potential recession grow louder, the Bank of Canada is expected to announce another hefty interest rate hike on Wednesday, edging the bank closer to the end of one of the fastest monetary policy tightening cycles in its history.
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Another Bank of Canada interest rate hike expected Wednesday — the sixth this yearConsensus is that the Bank will raise the rate by 75 basis points to 4 per cent — a rate not seen since the 2008 financial crisis.
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Bank of Canada opts for lower half-point hike, but cautions more may comeBank of Canada hikes interest rate by 50 basis points
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Bank of Canada opts for lower half-point hike, but says more to comeBank of Canada hikes interest rate by 50 basis points
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Bank of Canada raises interest rate by half percentage pointThe Bank of Canada raised its key interest rate by half a percentage point on Wednesday, bringing it to 3.75 per cent.
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Bank of Canada hikes key interest rate half a point to 3.75% - BNN BloombergThe Bank of Canada unexpectedly slowed its pace of interest-rate hikes as the nation’s economy flirts with recession.
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