News 3 Bank of Canada

Bank of Canada raises policy interest rate by 25 basis points

eAwaz Local News

Ottawa – The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening. Global inflation remains high and broad-based. Inflation is coming down in many countries, largely reflecting lower energy prices as well as improvements …

Maccolm

Bank of Canada increases policy interest rate by 50 basis points

eAwaz Local News

Ottawa – The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is also continuing its policy of quantitative tightening. Inflation around the world remains high and broadly based. Global economic growth is slowing, although it is proving more resilient than was …

Judith Robertson

Financial Literacy Month virtual launch event 

eAwaz Local News

Ottawa – Each November, organizations across Canada from the public, private and   non-profit sectors take action to strengthen the financial literacy of Canadians. Today Judith Robertson, Commissioner of the Financial Consumer Agency of Canada (FCAC), will launch the 12th annual Financial Literacy Month. The virtual event will bring together people and organizations that share a commitment to advancing financial literacy …

Bank of Canada

Bank of Canada increases policy interest rate by 50 basis points

eAwaz Local News

Ottawa – The Bank of Canada today increased its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. The Bank is also continuing its policy of quantitative tightening. Inflation around the world remains high and broadly based. This reflects the strength of the global recovery from the pandemic, a series …

Bank of Canada

Bank of Canada increases policy interest rate by 75 basis points

eAwaz Local News

Ottawa – The Bank of Canada today increased its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%. The Bank is also continuing its policy of quantitative tightening. The global and Canadian economies are evolving broadly in line with the Bank’s July projection. The effects of COVID-19 outbreaks, ongoing supply …

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Toll of Inflation: Soaring prices has four-in-five Canadians pinching pennies

eAwaz Local News

Ottawa – Statistics Canada may have reported cooling inflation rates in recent days, but the summer of price increases continues to simmer. The level of month-to-month price increases was the lowest so far this year. However, prices have risen by 7.6 per cent since July 2021, meaning there is much work for the Bank of Canada left to do to return …

Tiff Macklem

Bank of Canada increases policy interest rate by 100 basis points

eAwaz Canada News

Ottawa – The Bank of Canada today increased its target for the overnight rate to 2½%, with the Bank Rate at 2¾% and the deposit rate at 2½%. The Bank is also continuing its policy of quantitative tightening (QT). Inflation in Canada is higher and more persistent than the Bank expected in its April Monetary Policy Report (MPR), and will likely remain …

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National home sales fell by 8.6% in May

eAwaz Canada News

Ottawa – Home sales recorded over Canadian MLS® Systems declined by 8.6% between April and May 2022. This built on a larger drop recorded in April, leaving monthly activity at pre-COVID levels recorded in the second half of 2019 and only slightly above the 10-year average. Sales were down in three-quarters of all local markets, led by a number of larger …

News 3 Bank of Canada

Bank of Canada increases policy interest rate

eAwaz Local News

Ottawa – The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at 1¾% and the deposit rate at 1½%. The Bank is also continuing its policy of quantitative tightening (QT). Inflation globally and in Canada continues to rise, largely driven by higher prices for energy and food. In Canada, CPI inflation …

Toronto Regional Real Estate Board

TRREB: Home sales in Toronto dropped by 41% since last year 

eAwaz Local News

TORONTO – The Greater Toronto Area (GTA) housing market continued its adjustment to higher borrowing costs, with the number of transactions down on a monthly and annual basis. As has been the case with previous rate tightening cycles, some home buyers have moved to the sidelines to determine how they will reposition themselves in the marketplace given the higher rate …