Canadian economists are growing increasingly nervous as the United States inches closer to a potential default due to an impasse in debt ceiling talks. That’s not just because a default, which could happen as soon as the end of this month without a deal, would be catastrophic for the American and global economies. It’s also because
The Bank of Canada wants to know what Canadians think about the possibility of a digital loonie. Consultations on what Canadians would like to have included in a digital currency are open online from May 8 until June 19, the Bank of Canada said Monday.The central bank notes, however, that the decision to launch a
The head of the Bank of Canada poured water on market expectations for interest rate cuts in 2023 as the central bank maintained its key policy rate on Wednesday. The Bank of Canada held its benchmark interest rate at 4.5 per cent in a second consecutive decision, a move largely in line with economists’ expectations.Though
The Bank of Canada is expected to hold its key interest rate steady this week as inflation continues to slow, despite other data suggesting the economy is still running hot. The central bank is set to announce its next interest rate decision on Wednesday. The announcement will be accompanied with updated economic projections for growth
It’s a question that’s dominated the news cycle, stock market watchers, economic analyses and even Ottawa’s 2023 budget — will Canada’s previously roaring economy coast into a so-called “soft landing” as it slows, or tumble sharply into a recession? Ongoing calls from a chorus of economists predicting a recession to hit Canada in 2023 have
Canada’s Liberal government is in a tight spot heading into the 2023 federal budget. A year of surging prices and rising interest rates has put fresh stress on Canadian households struggling to make ends meet.Landmark investments in the green transition from the United States have turned up the heat on the Canadian government as it
The annual rate of inflation cooled to 5.2 per cent in February, Statistics Canada says, though Canadians continued to feel the pain of surging costs at grocery stores. That compares to an overall inflation rate of 5.9 per cent in January; StatCan said February’s CPI drop marks the largest deceleration in headline CPI since April
Canada’s banking regulator has temporarily seized the assets of Silicon Valley Bank’s lone Canadian branch after the financial institution collapsed. U.S. banking regulators were forced on Friday to urgently close the California-based institution after billions of dollars were withdrawn by fearful depositors, leading to a run on the bank, which caters heavily to tech sector firms.
The Bank of Canada decided to hold its key interest rate steady Wednesday but made clear it’s still prepared to raise rates further depending on how inflation and the economy progress. The central bank’s policy rate remains at 4.5 per cent as of Wednesday.The hold, which was widely expected by economists, comes after eight consecutive increases
While inflation takes its toll on many households, so does the inherent goodness of some people. Motorcycle accident toronto today kicked off the new year with a six-week Out of Pocket series, looking at the toll cost of living increases are having across the country.Chantel Greene is a single mom who works full-time managing the car wash