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The Latest Breaking News from Bank of Canada

Inflation is down overall, so why are my grocery bills still going up?

Despite Canada’s inflation rate falling to its lowest point in two years, food prices remain high. The Consumer Price Index slowed to 2.8 per cent in June compared to last year, but food prices increased by 8.3 per cent. Food prices in stores increased by 9.1 per cent.

The Conversation

Here's how the Bank of Canada's interest rate hike to 5% will impact Canadian households

The Bank of Canada has just hiked its interest rate by another 25 points to five per cent — the second quarter-point hike since June’s interest rate increase to 4.75 per cent. The central bank has been steadily increasing interest rates over the past three years in an effort to…

The Conversation

As the Bank of Canada prepares for a digital Canadian dollar, democratic concerns loom large

The Bank of Canada is preparing for the possibility of the Canadian government requiring it to issue a digital version of the Canadian dollar. Although the central bank is leading the project for the new currency, any future decision to issue it rests with the Canadian Parliament and government.

The Conversation

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Markets Today: Stocks Higher as Bond Yields Fall on Jobless Claims Surge

Morning Markets June E-Mini S&P 500 futures (ESM2 3) this morning are up +0.03%, and June Nasdaq 100 E-Mini futures (NQM2 3) are up +0.16%. U.S. stock index futures this morning recovered from overnight losses and posted modest gains after bond yields fell when weekly U.S. jobless claims jumped to...

Barchart

Stocks Move Lower Before the Open as Investors Weigh Interest Rate Outlook

June S&P 500 futures (ESM23) are down -0.06%, and June Nasdaq 100 E-Mini futures (NQM23) are down -0.10% this morning after three major U.S. benchmark indices finished the regular session mixed as an unexpected Bank of Canada rate increase forced investors to recalibrate their expectations regarding the Federal Reserve interest…

Barchart

Stocks Little Changed Before the Open as Investors Weigh Interest Rate Outlook

June S&P 500 futures (ESM23) are up +0.05%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.15% this morning after three major U.S. benchmark indices finished the regular session mixed as an unexpected Bank of Canada rate increase forced investors to recalibrate their expectations regarding the Federal Reserve interest…

Barchart

Stocks Mixed Before the Open as Investors Weigh Interest Rate Outlook

June S&P 500 futures (ESM23) are up +0.08%, and June Nasdaq 100 E-Mini futures (NQM23) are down -0.10% this morning after three major U.S. benchmark indices finished the regular session mixed as an unexpected Bank of Canada rate increase forced investors to recalibrate their expectations regarding the Federal Reserve interest…

Barchart

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Stock Market Today: Stocks Finish Mixed After Bank of Canada's Surprise Rate Hike

Canada's central bank unexpectedly lifted interest rates after pausing them earlier this year, boosting expectations for another Fed rate hike at next week's meeting.

Kiplinger

Interest rate hikes: The Bank of Canada's 'resolute' fight against inflation could threaten its credibility

The Bank of Canada “resolutely” declared it will fight inflation by raising interest rates. To demonstrate its unwavering commitment to reaching the bank’s two per cent inflation target, today’s eighth consecutive interest rate hike brings the policy rate to 4.5 per cent. The bank expects to hold the rate for…

The Conversation

Cryptocurrencies are in crisis, but they are not going to disappear

Cryptocurrencies are experiencing their worst crisis since the arrival of the first crypto assets and virtual currencies in the 1990s and their democratization in the 2010s.

The Conversation

How large corporations make huge profits from hidden markups at the expense of consumers

Inflation, followed by poverty and social inequality are the most pressing issues worrying people around the world right now. Canada has not been immune from the rising cost of living and is still fighting an inflation rate above the two per cent target preferred by the Bank of Canada.

The Conversation

High food prices could have negative long-term health effects on Canadians

Recent high food price inflation has plagued many Canadian families, especially those on tight budgets. Statistics Canada reported in October that in-store food prices increased at a faster rate than the all-items Consumer Price Index for the 11th month in a row.

The Conversation

Canada should focus on building ties with countries that share its values — but tread carefully

In his recent book, Values: Building a Better World for All, economist and former governor of the Bank of Canada and Bank of England Mark Carney argued that economic activity should be intentionally linked to the social and political outcomes it generates.

The Conversation

The Bank of Canada just hiked interest rates for the sixth time — is it too late?

Following closely on the heels of the European Central Bank and the U.S. Federal Reserve Board, the Bank of Canada has raised its target interest rate by 50 basis points. This is its sixth interest rate hike this year.

The Conversation

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Benzinga

Dogecoin Tops Intraday Gains, Bitcoin, Ethereum Spike: Analyst Sees Apex Coin Rising To $22,500 If This Happens

Top coins rallied Wednesday evening as the global cryptocurrency market cap rose 3.1% to $1 trillion at 9:08 p.m. EDT.

The Conversation

The Bank of Canada's own policy is the reason why inflation is so high

The Bank of Canada has raised interest rates again in an effort to quell inflation. The central bank raised its policy rate by 0.75 percentage points on Sept. 7, bringing its benchmark overnight rate to 3.25 per cent. Economists are expecting the central bank to raise it again before the…

The Independent UK

Queen Elizabeth is featured on several currencies. Now what?

Queen Elizabeth II has been depicted on British banknotes and coins for decades

The Walrus

What Is the Cost of a Cashless Society?

The trend toward digital payment could shortchange the country’s most vulnerable

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Reuters

In protests and politics, Canada's 'Freedom Convoy' reverberates

In late January five friends, just a few years out of high school, piled into a rented camper van and drove 37 hours in the Canadian winter from southern Alberta to Ottawa to join anti-government protests led by a convoy of truckers.

Bangkok Post

Global Housing Boom Fades as Interest Rates Climb

Rising interest rates are slamming the brakes on a global housing boom that spread far beyond the U.S. during the pandemic, heaping extra pressure on central banks as they try to tame inflation without triggering deep downturns in their economies.

The New Daily

Mixed fortunes as larger than expected inflation and rate raises hit sharemarket gains

US sharemarkets erased a much of last week’s gains after a shockingly high inflation number, as the ASX200 spent most of the week consolidating its rally.

Benzinga

Canadians Wake Up To A Jolt After Bank Of Canada Hikes Rates 1% Overnight: Will The US Follow Suit?

The S&P TSX Composite Index (TSX: TSX) was slammed on Wednesday, dropping to its lowest point since March 8, 2021 to bounce up off the $18,378.83.

The New Daily

Strong market gains and job increases despite another interest rate bump

The ASX200 had its best week in three months, rising by 2.1 per cent, supported by the rebound on Wall Street and strong gains in IT stocks.

Reuters

Canada has a path to "soft landing," finance minister Freeland says- CBC

Finance Minister Chrystia Freeland on Sunday said Canada still has a path to a "soft landing," where it could stabilize economically after the blow by the COVID-19 pandemic, without facing a severe recession that many fear, CBC News reported

Benzinga

Toronto Housing Crash Up To 36 Percent In Certain GTA Suburbs Since February 2022

After an epic 30-year run in housing prices in the Greater Toronto Area (GTA)—interrupted by only a handful of sharp but quick declines—the bear is back. In some GTA suburbs, Toronto housing crash has shaved over one-third of value off of average home prices the first two quarters of 2022…

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