Bank of Canada

The Bank of Canada is seen through a bed of tulips in Ottawa on Monday, May 6, 2024. THE CANADIAN PRESS/Sean Kilpatrick

Bank of Canada cuts interest rate for first time in 4 years

The Bank of Canada marked a major turning point in its fight…

 

Bank of Canada governor Tiff Macklem navigates a political minefield every time he testifies before the House of Commons finance committee. Macklem arrives to appear as a witness at a House of Commons Finance Committee in Ottawa, Thursday, May 2, 2024. THE CANADIAN PRESS/Sean Kilpatrick

Macklem tries to stay out of fray as MPs use his words to score points

4 times a year, MPs get the chance to question Bank of Canada governor on monetary policy.

 

Bank of Canada Governor Tiff Macklem holds a press conference at the Bank of Canada in Ottawa on Wednesday, March 6, 2024. THE CANADIAN PRESS/Sean Kilpatrick

Interest rates hold steady again, Bank of Canada considers June cut

Central bank kept key interest rate at 5%, says it has begun to see conditions for a reduction

 

Federal Infrastructure Minister Sean Fraser says Tamara Vrooman is leaving her role as chair of the Canada Infrastructure Bank. The setting sun reflects off of power lines as a motorist in a pickup truck travels on the Trans-Canada Highway in Walhachin, B.C., west of Kamloops, on Tuesday, March 29, 2022. THE CANADIAN PRESS/Darryl Dyck

Government says Vrooman leaving as chair of Canada Infrastructure Bank

Jane Bird, a member of the CIB board of directors, has been named interim chair

Federal Infrastructure Minister Sean Fraser says Tamara Vrooman is leaving her role as chair of the Canada Infrastructure Bank. The setting sun reflects off of power lines as a motorist in a pickup truck travels on the Trans-Canada Highway in Walhachin, B.C., west of Kamloops, on Tuesday, March 29, 2022. THE CANADIAN PRESS/Darryl Dyck
The Bank of Canada kept its overnight lending rate at 5 per cent, but a senior economist with TD forecasts that interest rate cuts are on the horizon, which promise to ease housing costs in B.C. But B.C.’s economy is not predicted to grow as fast as the rest of the country’s. (THE CANADIAN PRESS/Sean Kilpatrick)

TD forecasts B.C.’s housing costs to ease with interest rate cuts on horizon

Bank of Canada held overnight lending rate at 5 per cent, but TD forecasts cuts in 2024

The Bank of Canada kept its overnight lending rate at 5 per cent, but a senior economist with TD forecasts that interest rate cuts are on the horizon, which promise to ease housing costs in B.C. But B.C.’s economy is not predicted to grow as fast as the rest of the country’s. (THE CANADIAN PRESS/Sean Kilpatrick)
As the Bank of Canada gears up to announce its next interest rate decision Wednesday, economists will on the lookout for any clues on when it plans to start cutting interest rates. The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. THE CANADIAN PRESS/Sean Kilpatrick

All eyes on the BoC this week for hints on when it may cut interest rates

Forecasters expect cut to happen as early as this spring

As the Bank of Canada gears up to announce its next interest rate decision Wednesday, economists will on the lookout for any clues on when it plans to start cutting interest rates. The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. THE CANADIAN PRESS/Sean Kilpatrick
The Bank of Canada is framed by fall-coloured leaves in Ottawa on Monday, Oct. 23, 2023. The Bank of Canada’s public consultations on the creation of a digital Canadian dollar reveal most respondents are opposed to it. THE CANADIAN PRESS/Sean Kilpatrick

A digital loonie can wait, Canadians tell Bank of Canada

Vast majority do not trust the Bank of Canada to issue a secure digital currency

The Bank of Canada is framed by fall-coloured leaves in Ottawa on Monday, Oct. 23, 2023. The Bank of Canada’s public consultations on the creation of a digital Canadian dollar reveal most respondents are opposed to it. THE CANADIAN PRESS/Sean Kilpatrick
Carolyn Rogers, Senior Deputy Governor at the Bank of Canada waits to appear as a witness before the Senate of Canada Standing Commitee on Banking, Commerce and the Economy in Ottawa, on Thursday, April 20, 2023. THE CANADIAN PRESS/Spencer Colby

Canadians should not expect interest rates to drop back to previous lows

Bank of Canada official says don’t count on pre-pandemic rates returning

Carolyn Rogers, Senior Deputy Governor at the Bank of Canada waits to appear as a witness before the Senate of Canada Standing Commitee on Banking, Commerce and the Economy in Ottawa, on Thursday, April 20, 2023. THE CANADIAN PRESS/Spencer Colby
Premier David Eby says he makes no apologies for speaking on behalf of British Columbia about the effects of high interest rates. While he welcomed the Bank of Canada’s decision to hold the overnight rate at 5 per cent, he said many families remain on the edge because of the highest interest in more than two decades. (Black Press Media file photo)

Premier applauds interest rate hold, says many B.C. families remain on edge

Eby says he will continue commenting on Bank of Canada decisions after interest rate held at 5%

Premier David Eby says he makes no apologies for speaking on behalf of British Columbia about the effects of high interest rates. While he welcomed the Bank of Canada’s decision to hold the overnight rate at 5 per cent, he said many families remain on the edge because of the highest interest in more than two decades. (Black Press Media file photo)
The Bank of Canada is widely expected to hold its key interest rate steady on Wednesday as the Canadian economy bends to higher interest rates and inflation resumes its downward trend. The Bank of Canada building is pictured in Ottawa on Tuesday, Dec. 6, 2022. THE CANADIAN PRESS/Sean Kilpatrick
The Bank of Canada is widely expected to hold its key interest rate steady on Wednesday as the Canadian economy bends to higher interest rates and inflation resumes its downward trend. The Bank of Canada building is pictured in Ottawa on Tuesday, Dec. 6, 2022. THE CANADIAN PRESS/Sean Kilpatrick
Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers hold a press conference at the Bank of Canada in Ottawa, Wednesday, July 12, 2023. THE CANADIAN PRESS/Sean Kilpatrick

Key interest rate could climb again, Bank of Canada cautions

Tiff Macklem says economy slowdown needs to continue and more measures may be needed

Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers hold a press conference at the Bank of Canada in Ottawa, Wednesday, July 12, 2023. THE CANADIAN PRESS/Sean Kilpatrick
British Columbia Premier David Eby is calling on the Bank of Canada to halt further interest rate hikes. Eby speaks to media following a tour of the Tselletkwe Lodge in Kamloops, B.C., Tuesday, Aug. 22, 2023. THE CANADIAN PRESS/Chad Hipolito

Eby urges end to interest rate hikes ‘hurting’ British Columbians

Premier writes Bank of Canada governor Tiff Macklem requesting end to trend of climbing interest

British Columbia Premier David Eby is calling on the Bank of Canada to halt further interest rate hikes. Eby speaks to media following a tour of the Tselletkwe Lodge in Kamloops, B.C., Tuesday, Aug. 22, 2023. THE CANADIAN PRESS/Chad Hipolito
This week, the Bank of Canada hiked interest rates yet again, raising its key interest rate by a quarter of a percentage point to 5 per cent, and the prime rate to 7.2 per cent. A woman walks past the Bank of Canada headquarters in Ottawa, Wednesday, June 1, 2022. THE CANADIAN PRESS/Adrian Wyld

By the numbers: What the latest interest rate hike means for your mortgage

Examining how 5% interest affects Canadian home owners from coast to coast

This week, the Bank of Canada hiked interest rates yet again, raising its key interest rate by a quarter of a percentage point to 5 per cent, and the prime rate to 7.2 per cent. A woman walks past the Bank of Canada headquarters in Ottawa, Wednesday, June 1, 2022. THE CANADIAN PRESS/Adrian Wyld
The Bank of Canada is set to announce its interest rate decision this morning along with new economic projections. The Bank of Canada wording on a Canadian $50 bill is pictured in Ottawa on Wednesday, Jan. 11, 2023. THE CANADIAN PRESS/Sean Kilpatrick

Bank of Canada hikes rate to 5%, expects slower return to inflation target

The central bank’s key rate raised by a quarter of a percentage point

The Bank of Canada is set to announce its interest rate decision this morning along with new economic projections. The Bank of Canada wording on a Canadian $50 bill is pictured in Ottawa on Wednesday, Jan. 11, 2023. THE CANADIAN PRESS/Sean Kilpatrick
The Bank of Canada is set to announce its interest rate decision this morning as speculation about another rate hike heats up. A woman walks past the Bank of Canada headquarters, Wednesday, June 1, 2022 in Ottawa. THE CANADIAN PRESS/Adrian Wyld

Bank of Canada raises key interest rate amid stubbornly high inflation

Its key interest rate now sits at 4.75 per cent, the highest it’s been since 2001

The Bank of Canada is set to announce its interest rate decision this morning as speculation about another rate hike heats up. A woman walks past the Bank of Canada headquarters, Wednesday, June 1, 2022 in Ottawa. THE CANADIAN PRESS/Adrian Wyld
Carlos Leitao reacts to the Quebec Auditor General annual report at the National Assembly in Quebec City on Monday August 15, 2022. Former Quebec finance minister Leitao has been appointed to the Bank of Canada’s board of directors. THE CANADIAN PRESS/Francis Vachon

Former Quebec finance minister Leitão appointed to Bank of Canada

Before entering politics, Leitão had a 30-year career in the Canadian banking and financial sector

Carlos Leitao reacts to the Quebec Auditor General annual report at the National Assembly in Quebec City on Monday August 15, 2022. Former Quebec finance minister Leitao has been appointed to the Bank of Canada’s board of directors. THE CANADIAN PRESS/Francis Vachon
Tiff Macklem, Governor of the Bank of Canada, holds a press conference at the Bank of Canada in Ottawa on Wednesday, Jan. 25, 2023. The Bank of Canada is taking a pause from raising interest rates to assess how the economy responds to higher borrowing costs, with one key indicator to watch being the labour market. THE CANADIAN PRESS/Sean Kilpatrick

As the Bank of Canada hits pause on hiking rates, all eyes are on the labour market

Labour groups have voiced concerns about the Bank of Canada’s rate hikes in recent months

Tiff Macklem, Governor of the Bank of Canada, holds a press conference at the Bank of Canada in Ottawa on Wednesday, Jan. 25, 2023. The Bank of Canada is taking a pause from raising interest rates to assess how the economy responds to higher borrowing costs, with one key indicator to watch being the labour market. THE CANADIAN PRESS/Sean Kilpatrick
A real estate sign is displayed in front of a house in the Riverdale area of Toronto on Wednesday, September 29, 2021.THE CANADIAN PRESS/Evan Buhler

What the Bank of Canada’s latest rate hike means for mortgage holders

4.5 per cent likely to remain until Canada’s high inflation rate falls to its two per cent target

A real estate sign is displayed in front of a house in the Riverdale area of Toronto on Wednesday, September 29, 2021.THE CANADIAN PRESS/Evan Buhler
The Bank of Canada will announce its interest rate decision this morning as economists widely expect the central bank to opt for a quarter percentage point rate hike. The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. THE CANADIAN PRESS/Sean Kilpatrick

Bank of Canada hikes key interest rate by quarter point, says it plans to hold

Key interest rate now stands at 4.5 per cent, highest it’s been in more than 15 years

The Bank of Canada will announce its interest rate decision this morning as economists widely expect the central bank to opt for a quarter percentage point rate hike. The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. THE CANADIAN PRESS/Sean Kilpatrick
People make their way around the Rideau Center shopping centre on Boxing Day in Ottawa, on Monday, Dec. 26, 2022. Statistics Canada will release its inflation report for December this morning. The federal agency’s consumer price index report will provide insight on how quickly prices rose last month as Canada continues to struggle with decades-high inflation.THE CANADIAN PRESS/Spencer Colby

Despite inflation slowing in December, Bank of Canada still expected to hike rates

Inflation rate peaked in the summer at 8.1 per cent and has been slowly decelerating since

People make their way around the Rideau Center shopping centre on Boxing Day in Ottawa, on Monday, Dec. 26, 2022. Statistics Canada will release its inflation report for December this morning. The federal agency’s consumer price index report will provide insight on how quickly prices rose last month as Canada continues to struggle with decades-high inflation.THE CANADIAN PRESS/Spencer Colby