The Bank of Canada lowered its benchmark interest rate by a quarter-percentage point on Wednesday, marking a significant turning point in the central bank’s efforts to tame inflation. The Bank of Canada’s policy rate now stands at 4.75 per cent following six consecutive holds in previous meetings. The key rate informs the cost of borrowing
Economists and market watchers are firming up their bets for Bank of Canada interest rate cuts after another soft inflation report showed more signs of easing price pressures. The annual inflation rate slowed to 2.7 per cent in April, Statistics Canada said Tuesday, as cooling grocery price pressures offset higher fuel costs.Inflation on food bought
Descrease article font size Increase article font size London Drugs said Tuesday that all of its stores stores in Western Canada have reopened. The update came more than a week after a cyberattack closed all 79 of its retail locations.Earlier this week the company said it had previously restored core services in 40 stores but
By Staff The Canadian Press Posted May 2, 2024 6:06 pm Updated May 2, 2024 7:06 pm 1 min read Descrease article font size Increase article font size Retailer London Drugs says it’s rebuilding its data infrastructure with the help of leading third-party experts to bring its operations safely back online after a cybersecurity incident
Affordability is one of the key focuses for the Liberal government in its latest budget, with housing taking centre stage with billions of dollars in sweeping policies targeting major reforms and changes. “Together, we will unlock the door to the middle class for more Canadians and renew the promise of our great country,” Finance Minister
The Bank of Canada held its benchmark interest rate steady on Wednesday amid signs that inflation is easing, with officials acknowledging that a rate cut in June is “within the realm of possibilities.” The central bank’s policy rate, which informs lending rates on key products like Canadian mortgages, remains at 5.0 per cent for the
Fears that the spring housing market could “overheat” will be in the background as the Bank of Canada readies for its interest rate decision on Wednesday, experts say. The spring housing market, which kicks off in March, is typically one of the busiest times of the year for home buyers and sellers in Canada.So far
The Canadian unemployment rate jumped up to 6.1 per cent in March amid rapid growth in the labour pool, Statistics Canada said Friday. Canadian employers collectively shed 2,200 jobs last month but employment was little changed in the month, the agency said.Canada’s unemployment rate was 5.8 per cent in February.The spike in the unemployment rate
A new report from the Royal Bank of Canada is painting a bleak picture of just how unaffordable and unattainable buying a home in Vancouver is. The report, which looks at housing trends across the country, found that it has never been as expensive to own a home anytime, anywhere in Canada as it was
The Bank of Canada is warning that waning productivity growth in the country is an “emergency” that can force higher interest rates and limit rising wages for Canadians. Senior deputy governor Carolyn Rogers gave a speech in Halifax on Tuesday in which she sounded the alarm on Canada’s lagging productivity rates.Rogers argued that productivity is