The Bank of Canada has decided to keep its policy interest rate steady for the fourth consecutive time. The bank stated that discussions about monetary policy have shifted from raising borrowing costs to when they should lower them due to the Canadian economy being in a state of 'excess supply.
' This decision maintains the policy rate at 5%, which is a two-decade high. The bank's language also hinted at the possibility of future rate cuts.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of Canada Keeps Interest Rate Steady, Signals Rate Hikes UnlikelyBank of Canada Governor Tiff Macklem keeps benchmark interest rate at five per cent, but signals rate hikes are unlikely due to a slowing economy. Macklem says more assurance is needed that inflation is decreasing before considering easing monetary policy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Economists Warn Bank of Canada About Interest Rate CutsFar too many indicators, inflation included, are still too erratic for the BoC to approach the topic of interest rate cuts, economists warn.
Source: storeyspub - 🏆 16. / 74 Read more »
Bank of Canada Expected to Cut Interest Rate by 2025The Bank of Canada is predicted to cut its policy interest rate to 2.25% by 2025, reducing the current rate of 5% by more than half. This would be beneficial for borrowers with high mortgage payments. Home sale numbers have decreased due to high interest rates.
Source: storeyspub - 🏆 16. / 74 Read more »
Luxury Consignment Chain Offers First-Rate Second-Hand Shopping in CanadaDiscover the best second-hand stores across Canada, offering vintage fashion and sustainable chic luxury. Explore the sleekly designed Vancouver boutiques of a luxury consignment chain, where you can find trendy items and earn store credit through their Influencer Program.
Source: ElleCanada - 🏆 27. / 68 Read more »