Search results
19 hours ago · Financial Post. Canada’s unemployment rate hit 6.4 per cent in June, the highest reading since 2017, outside of the pandemic, data showed Friday. Much of that increase came from students, whose jobless rate hit 13.5 per cent, the highest since 2014, but layoffs were also up 20 per cent from a year ago, said Nathan Janzen, assistant chief ...
Jul 13, 2022 · The Bank of Canada’s 100-basis-point increase follows consecutive half-percentage-point hikes in April and June, making the current tightening effort one of the most aggressive ever.
Jun 7, 2023 · It's the first time that Canada's central bank has raised its trend-setting interest rate since January, when the bank signalled it would conditionally pause its aggressive campaign of rate hikes to wait and see if it had done enough to bring down inflation.
- Large Hike Warranted, Economist Says
- Housing Market Will Feel The Pinch
- More Rate Hikes Expected
Economist Stephen Gordon with Laval University says it's clear the bank has miscalculated the speed with which inflation was going to heat up, and are now trying to course correct on the fly. "They're playing a bit of a catch up here, and that's partly why they're going up so fast," he said in an interview. While the size of the hike was outside th...
The impact of higher rates will be felt most directly on the housing market, as variable rate mortgages are closely tied to the central bank's rate. Canada's housing market was red hot for most of the pandemic, as record low ratesfuelled demand and pushed prices up to their highest levels ever. But that direction turned in the first part of this ye...
Increases like that are exactly what home owner Tim Capes was worried about last month when he switched his home loan from a variable rate to a fixed-rate mortgage. "We felt the pain every time interest rates would go up and we'd get a letter from the bank that our mortgage would go up by a certain amount and the budget would get a tiny bit tighter...
Jun 7, 2023 · It's the first time that Canada's central bank has raised its trend-setting interest rate since January, when the bank signalled it would conditionally pause its aggressive campaign of rate...
Jan 19, 2024 · In what will be the largest revamp in nearly two decades, the central bank intends to replace its two main macroeconomic models with a new core model for forecasting and analysis.
People also ask
Are the forces against Bank of Canada interest rate cuts fading?
Why did Bank of Canada raise its benchmark interest rate?
How does Canada's bank rate affect mortgage rates?
Why did the Bank of Canada hike interest rates?
Jun 6, 2024 · The central bank cut rates this week for the first time since March 2022, when it embarked on one of the fastest and most aggressive hiking cycles in Canadian history, raising its key overnight...
