TORONTO – Inflation falls, prices rise: the paradox continues. The latest Consumer Price Index (CPI) for May 2023 shows that the increase is 3.4% year-on-year, one point less than the 4.4% increase in April: according to Statistics Canada, the reduction – is the result of falling gas prices. (more…)
TORONTO – After a year of continuous hikes, the “key” interest rate finally stops. In fact, today the Bank of Canada decided to keep it unchanged, while clarifying that it is still ready to raise rates further depending on how the intensity and the economy progress. In any case, for now the official rate of the Canadian central bank remains at 4.5%. (more…)
TORONTO – Said and done. Bank of Canada raised the interest rate by another 0.50, taking it from 3.25 to 3.75 percent. Since last March, the central bank has raised the reference rate six times, “with the aim of combating inflation and bringing it back to the 2% target”, as the central bank has always maintained. A goal that is far from being achieved, as the Bank of Canada admits in the statement published today on its website (here). (more…)
TORONTO – Canada is approaching recession, families are on their knees but the central bank “pulls straight” and on Wednesday tomorrow will announce yet another interest rate hike.
TORONTO – The Bank of Canada raised the interest rate by another 0.75 basis points, bringing it to 3.25 percent from 2.5 percent. It’s yet another in a series of hikes that began in March: since then, the Canadian central bank has raised the key rate by 3.00 basis points, at a pace not seen since the mid-1990s. (more…)