The Bank of Canada is turning to the public for input on its inflation-rate target that underlies any changes to the central bank's trend-setting interest rate.
The Bank of Canada will keep its key interest rate at 0.25 per cent until the national economic picture improves, which governor Tiff Macklem said on Wednesday, July 15, 2020, will take "a long time."
Prime Minister Justin Trudeau says the federal government is willing to send money to provinces that want to provide salary top-ups to workers deemed essential.
Canada's central bank cut another half-point off its key interest rate in an emergency move that comes ahead of what the federal Liberals say will be a "significant" stimulus plan to cushion the economic blow from COVID-19.
Canada's central bank was leaning towards cutting its trend-setting interest rate this week before the novel coronavirus pushed it to take a more dramatic step to get ahead of the shock the outbreak will have on the economy, Bank of Canada governor Stephen Poloz says.
The Bank of Canada is widely expected to leave its benchmark interest rate unchanged at 1.75 per cent today, December 05, 2018, after a 25-basis-point increase at its last setting in October.
Crude oil prices dipped to near a nine-month low as they fell for a tenth consecutive day, potentially having an impact on the Bank of Canada interest rate decision next month.
The decision to hike the interest rate arrived in the middle of a trade dispute between Canada and the United States that’s expected to hurt both economies.
The Bank of Canada left its benchmark interest rate unchanged on Wednesday, October 26, 2017, following two straight hikes, but suggested future increases are still likely, albeit at a more-gradual pace.