BoC raises key interest rate, expects slower return to inflation target
Bank says rate hike to 5% was prompted by elevated demand, driven by strong consumer spending
- By: The Canadian Press
- July 12, 2023 July 12, 2023
- 11:13
Bank says rate hike to 5% was prompted by elevated demand, driven by strong consumer spending
Expectations of higher borrowing rates are having a knock-on effect across lending markets
A growing population has boosted spending and the housing market but could help tame wage inflation, reports say
Businesses want professional licences and certifications to apply across jurisdictions
Wage gains may cut into profit margins, hitting stocks in the second half of the year
Forecasters say the economy has not softened enough for the central bank to back off
The Bank of Canada has identified household debt as a key risk
The increase came as the economy added 60,000 jobs in June, driven by gains in full-time work
The latest evidence of economic strength makes it all but certain that the Fed will resume rate hikes
After a volatile year in markets, more clients say they're willing to work with multiple providers
Issuance weakest since 1995 as IPOs, structured products and preferred issues were all scarce
The B.C. port strike will likely put a dent in July's trade figures
Buyer interest remains high but supply is tight and mortgage rates tough to grapple with
The job market's sturdiness has raised doubts about whether a downturn is inevitable
All eyes will be on the labour force survey at the end of this week
BMO ranks among top 10 in global deal advisory business
Increases in bond yields helped reduce plan liabilities
Poorer households hit harder by economic and financial conditions
Declining energy and food prices drive sharp drop in consumer prices in May
Office markets grapple with recession threat, interest rate hikes
Report highlights an unwelcome side effect of strong population growth
The proportion of consumers surveyed who think a recession is likely was 50%, down from 58% in the previous quarter