OTTAWA — The Bank of Canada cut its key interest rate target by 25 basis points to 4.75 per cent on Wednesday. Here is the text of the central bank's decision:
In Canada, economic growth resumed in the first quarter of 2024 after stalling in the second half of last year. At 1.7 per cent, first-quarter GDP growth was slower than forecast in the MPR. Weaker inventory investment dampened activity. Consumption growth was solid at about three per cent, and business investment and housing activity also increased. Labour market data show businesses continue to hire, although employment has been growing at a slower pace than the working-age population.
"It’s a terrible, terrible path that they’re leading us to," the former president said. "And it’s very possible that it’s going to have to happen to them.”Like most market-based investments, the price of gold gyrates in all directions. So how has it performed over the last ten years? If you invested $1,000 in gold a decade ago, how much would it be...
"The current upcycle started in late'23, so we are only in quarter 3, implying strength likely till mid-26E," Bank of America wrote on Monday. -- India’s stocks market plummeted, erasing $386 billion in market value, as tallies signaled that Prime Minister Narendra Modi’s ruling party was struggling to win a majority of seats in national elections, a stunning result after exit polls showed he was on pace for a landslide victory.
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