While Bank of Canada Governor Tiff Macklem says weakness in 2024 will lead us back to a balanced economy, he added it remains too early to start talking about rate cuts.
While spending by newcomers to Canada is having a negligible impact on headline inflation, it is contributing to elevated housing and rent prices, the Bank of Canada says.
Like a stern parent, the Bank of Canada once again reminded markets that it is prepared to raise interest rates further if necessary to bring down inflation.
The Bank of Canada's final rate decision of the year is expected to be uneventful, with markets and forecasters overwhelmingly predicting a third straight rate hold.
There was growing talk of the "R-word" (recession) leading up to today's GDP data release, given the third quarter could have marked the second straight month of negative growth.
As a teenager growing up in the 1970s, Tiff Macklem said he recognized the impact high inflation was having on everyone: "Inflation made everyone angry."
Following the release of weaker-than-expected October inflation data, markets are growing more confident that the Bank of Canada's rate-hike cycle is officially over.
Canadians must prepare themselves for the possibility that interest rates remain "higher for longer," the Bank of Canada's Senior Deputy Governor said today.
While the Bank of Canada's rate hold last month was a welcome reprieve for borrowers, minutes from the meeting show the decision wasn't a unanimous one.
A survey of influential economists and analysts shows many are expecting the Bank of Canada’s first rate cut by April 2024.