Tag: interest rate
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Why Economists Are Changing Their Predictions: 50 Bps Rate Cut Likely from Bank of Canada Tomorrow
As the Bank of Canada prepares to announce its interest rate decision tomorrow, December 11, 2024, economists across the country are adjusting their predictions. Initially uncertain, many are now leaning towards a 50-basis-point (bps) rate cut, with top institutions like Scotiabank and the Bank of Montreal (BMO) joining the growing consensus. This decision could have…
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Bank of Canada raises key interest rate for the 10th time since March 2022
The Bank of Canada made a significant decision by raising its benchmark interest rate by 25 basis points, bringing it to a notable five percent, a level unseen since April 2001. This move was widely expected by economists due to the positive indicators from the June labour force survey released by Statistics Canada. The survey…
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Bank of Canada Raises Key Interest Rate to Highest Level Since 2001
In a surprising move, the Bank of Canada has decided to increase its key interest rate to 4.75 per cent, marking the highest level seen since 2001. This decision was prompted by a series of robust economic indicators that surpassed expectations. The central bank raised its overnight lending rate by 25 basis points (equivalent to…
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