The Bank of Canada today reduced its target for the overnight rate to 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. The Canadian economy entered 2025 in a solid position, with inflation close to the 2% target and robust GDP growth. However, heightened trade tensions and tariffs imposed by the United States will likely slow …
Ottawa – The Bank of Canada today reduced its target for the overnight rate to 3%, with the Bank Rate at 3.25% and the deposit rate at 2.95%.1 The Bank is also announcing its plan to complete the normalization of its balance sheet, ending quantitative tightening. The Bank will restart asset purchases in early March, beginning gradually so that its balance …
Ottawa – The Bank of Canada today reduced its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%. The Bank is continuing its policy of balance sheet normalization. The global economy is evolving largely as expected in the Bank’s October Monetary Policy Report (MPR). In the United States, the economy continues to …
TORONTO — Vic Fedeli, Minister of Economic Development, Job Creation and Trade, issued the following statement on today’s monthly employment release by Statistics Canada. “Ontario has added nearly 200,000 jobs this year, highlighting the resilience of our economy. However, last month’s job numbers remind us of the challenges that persist. These results, once again, underscore the need for the Bank …
Ottawa – The Bank of Canada today reduced its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. The Bank is continuing its policy of balance sheet normalization. The Bank continues to expect the global economy to expand at a rate of about 3% over the next two years. Growth …
Ottawa – Deputy Prime Minister Chrystia Freeland, remarked on investments made in public transit in Toronto. She said: We are here with Team Scarborough, with three outstanding Scarborough MPs, Gary, John and Jean. I want to say to everyone here in Scarborough, they love this amazing community. And it’s really great to have two great Scarborough city councillors, Jamaal and …
Ottawa – Deputy Prime Minister Chrystia Freeland announced mortgage reform details to ensure Canadians can access lower monthly mortgage payments by December 15. She said: I will talk about the Canadian economy and provide an update on the new mortgage rules announced last week. Then Minister Fraser will speak about the work being done on the Canada Housing Infrastructure Fund, …
Ottawa – The Bank of Canada today reduced its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is continuing its policy of balance sheet normalization. The global economy expanded by about 2½% in the second quarter, consistent with projections in the Bank’s July Monetary Policy Report (MPR). In the …
MISSISSAUGA — The Ontario government is helping enable the construction of more than 500,000 new homes across the province through the first round of investments from the province’s Housing-Enabling Water Systems Fund. This first round will see the province invest $970 million in 54 projects across 60 municipalities to help municipalities develop, repair, rehabilitate and expand drinking water, wastewater and stormwater infrastructure. In response …
Ottawa – The Bank of Canada today reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is continuing its policy of balance sheet normalization. The global economy is expected to continue expanding at an annual rate of about 3% through 2026. While inflation is still above …
