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Bank of Canada holds interest rate at 5%

The bank of Canada has chosen to hold its benchmark interest rate at 5.0% making it the fourth consecutive hold. This decision was widely anticipated by economists. Inflation continues to be challenged by gas prices, airfares and housing costs which have contributed to Canada’s annual inflation rate reaching 3.4% in

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Bank of Canada maintains policy rate

The Bank of Canada kept its key interest rates steady at 5%, maintaining its policy of reducing its balance sheet. This decision was influenced by the slowing global economy, with growth projections adjusted slightly. In Canada, past interest rate increases have had a cooling effect on the economy, particularly in

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The Bank of Canada holds interest rates at 5%

The Bank of Canada has decided to keep its overnight rate target at 5% today. Canada’s inflation rate rose to 3.3% in July, up from 2.8% in the previous month, and it’s anticipated to hover around the three percent mark in the coming months. The central bank was widely predicted

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The Bank of Canada raises interest rates to 5%

On Wednesday, the Bank of Canada decided to raise its benchmark interest rate by 25 basis points to reach 5%. In doing so, it acknowledged the possibility that controlling inflation might require a longer timeframe than initially anticipated. While reiterating its commitment to maintaining price stability, the bank did not

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Bank of Canada hikes interest rate to 4.75

The Bank of Canada lifted its interest rate hold on Wednesday, raising it by 25 basis points to 4.75 percent. The policy rate has now reached its highest level since April 2001. Canada is seeing substantial inflation for the first time in a generation. Goods and service costs have grown

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BOC Holds Interest Rate

The Bank of Canada has once again left its overnight target rate unchanged at 4.50%. This is the Bank’s second rate hold this year and was fully expected by markets. In its statement, the Bank said it “continues to assess whether monetary policy is sufficiently restrictive to relieve price pressures

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BOC Holds Interest rate first time in a year

For the first time in a year, Canada’s central bank has opted not to increase the overnight lending rates, maintaining the current interest rate at 4.5%.Economists broadly anticipated the hold after eight straight rises saw the benchmark rate rise by 425 basis points since March 2nd of last year. With

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Inflation rate fell in January, but food prices continue to grow

Statistics Canada reported that Canada’s inflation rate slowed to 5.9% in January, lower than the 6.2% expected. The price of groceries continues to accelerate and mortgage interest costs continue to rise. The most significant increase since September 1982 the Bank of Canada is trying to tame inflation with higher interest

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