It's decision day for the Bank of Canada, and we're expecting what could be the last round of outsized rate hikes.
It's decision day for the Bank of Canada, and we're expecting what could be the last round of. Tiff Macklem & Co. are expected to increase the central bank's benchmark rate by a further three quarters of a percentage point, bringing us to a full four per cent – 3.75 percentage points higher than when we started the year at the pandemic trough.
– the Nasdaq, in particular – in the wake of some disappointing earnings from a pair of tech titans. The culprits? Google-parent company Alphabet fell as much as six per cent after the company missed on the top and bottom line expectations in its latest quarter, while shares of Microsoft fell by a similar amount after reporting lower-than-expected cloud revenue. Microsoft's forecast also fell short of analyst expectations.
Air Canada is converting an option to buy an additional 15 Airbus A220-300 – perhaps more familiar to some as the former Bombardier CS300 – to a firm order, bringing its total order to 60 aircraft. Newly-minted U.K. Prime Minister Rishi Sunak is pushing back plans to outline the country's economic plan to November 17, as he seeks more time to plot the “right decisions” for how to navigate the best path for the British economy.
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Top Bank of Canada official Tiff Macklem speaks after interest rate hikeThe Bank of Canada announced a smaller-than-expected interest rate hike on Wednesday and said it was getting closer to the point where rate hikes could end, as it forecast the economy could possibly slip into a slight recession.
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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 crucial to what happens next in economyFinancial Post editor\u002Din\u002Dchief Kevin Carmichael talks about inflation, interest rates and the Canadian economy. Watch here.
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Bank of Canada defended by Chrystia Freeland ahead of potential rate hike - BNN BloombergFinance Minister Chrystia Freeland defended the Bank of Canada’s independence after the main left-leaning opposition party joined the Conservatives in criticizing its record.
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‘It’s going to be an angry debate’: Canadian left joins in criticism of Bank of CanadaA frequent target of Conservative leader Pierre Poilievre, the Bank of Canada has a growing number of critics on the left. 'There’s going to be an enormous debate about monetary policy … and it’s going to be an angry debate,' Jim Stanford predicts.
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Canadian banks raise prime rate to 5.95% after Bank of Canada hikeCanada\u0027s commercial banks began announcing hikes to their prime rate after the Bank of Canada raised its key interest rate. Read on
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