Tag: economics
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Alberta Is Now the Only Province That Hasn’t Raised Its Minimum Wage This Decade
Alberta hasn’t increased its minimum wage since 2018, making it the only province in Canada that hasn’t made at least one adjustment in the 2020s. In fact, if you’re under 18, wages actually went down. The province introduced a youth minimum wage of $13/hour in 2019 for students working 28 hours a week or less.…
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Bank of Canada Expected to Hold Rates at 2.75% This Wednesday- More Cuts Likely in 2025
Canada’s central bank is widely expected to hold interest rates at 2.75% this Wednesday, with economists predicting at least two more cuts before the end of 2025. According to a recent Reuters poll, over 75% of economists surveyed (20 out of 26) believe the Bank of Canada (BoC) will keep rates steady as it waits…
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How Canada’s Latest Inflation Report Is Changing Rate Cut Expectations
Expectations for a June interest rate cut by the Bank of Canada have cooled significantly following the release of April inflation data. While headline inflation fell to 1.7%, the Bank’s preferred core inflation measures rose above 3%, challenging the case for an immediate policy move. Just one week ago, markets placed the odds of a…
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Canada’s Inflation Rate Rises to 2% in October, Lowering Likelihood for Large Rate Cuts
Canada’s inflation rate unexpectedly climbed back to 2.0% in October 2024, driven by a smaller decline in gasoline prices and rising grocery costs. This marks the first increase in the annual inflation rate since May, aligning with the Bank of Canada’s forecasts and curbing market expectations for a significant rate cut next month. The news…
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Don’t Rule Out a 75-Point Rate Cut: Bank of Canada Set for Big Decision
The Bank of Canada is set to make a major announcement on its overnight interest rate tomorrow, and most economists are predicting a significant cut. While a 50-basis-point reduction is the most likely outcome, some experts suggest that an even bigger cut—75 basis points—could be on the table. Could We See a 75-Basis-Point Cut? Avery…
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Canadian Inflation Drops to 1.6% in September – A Big Rate Cut Might Be Coming
In September, Canada’s inflation rate dropped to 1.6%, the lowest it’s been since February 2021. This decrease is mainly due to falling gas prices and is raising hopes that the Bank of Canada will cut interest rates to help boost the economy. Many economists are now predicting that at the Bank of Canada’s next meeting…
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Bank of Canada Lowers Key Interest Rate to 4.5%
The Bank of Canada announced a cut to its key interest rate this morning, reducing it by a quarter percentage point to 4.5%. This marks the second consecutive rate cut as the central bank responds to easing inflationary pressures and a weakening economic outlook. Bank of Canada Governor Tiff Macklem made the announcement during a…
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Bank of Canada cuts key interest rate for the first time in 4 years
The Bank of Canada has reduced its overnight rate by 25 basis points, marking the first rate cut since the onset of the pandemic. This decision, announced on Wednesday, lowers the policy rate from 5% to 4.75%. Background and Context The Bank of Canada began increasing its key interest rate in March 2022 in response…
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All Eyes on the Bank of Canada: Will They Cut Interest Rates in June?
The Bank of Canada’s upcoming rate-setting announcement on Wednesday is attracting significant attention. While some expect a rate cut, the central bank’s decision could have substantial implications for the economy, especially if they choose to hold rates steady. The Current Economic Landscape The anticipation surrounding this announcement is fueled by the economic context. Since March…
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Bank of Canada to slash interest rates in half by end of 2025, predicts Desjardins
In a move anticipated to bring significant financial relief to Canadians, the Bank of Canada is gearing up to initiate a series of interest rate reductions starting this spring. According to Desjardins Group, this strategic adjustment aims to alleviate the economic strain experienced by many, marking a shift towards more accommodating monetary policy. Desjardins Group’s…
Canada Housing Market 