Analysts at CIBC point out that the February Canadian employment report wasn't as dramatic as January’s surge, but a slightly above consensus employment gain is another sign that the Canadian economy has more momentum to start 2023 than had initially been expected.
Bank of Canada Senior Deputy Governor Carolyn Rogers said on Thursday they are looking for more evidence that the current interest rate levels are high enough.
On Wednesday, the Bank of Canada (BoC), as expected kept its key interest rate unchanged at 4.50% as expected and made small changes to its forward guidance.
The Bank of Canada (BoC) announced on Wednesday that it left the benchmark interest rate unchanged at 4.5% following the March policy meeting. This decision came in line with the market expectation. In its policy statement, the BoC reiterated that it expects to hold the key rate at its current level, conditional on the economy developing broadly in line with its forecasts.
The Bank of Canada (BoC) announced on Wednesday that it hiked its benchmark interest rate by 25 basis points to 4.5% following the January policy meeting. This decision came in line with the market expectation.
The Bank of Canada (BoC) announce that it hiked its benchmark interest rate by 50 basis points to 4.25% following the December policy meeting. This decision came in line with the market expectation. In its policy statement, the BoC said that it will be considering whether the policy rate needs to rise further.
The Bank of Canada is the nation's central bank. Its principal role is "to promote the economic and financial welfare of Canada," as defined in the Bank of Canada Act. The Bank’s four main areas of responsibility are:
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Tiff Macklem was born in Montréal, Quebec, in 1961. He was appointed Governor of the Bank of Canada, effective 3 June 2020, for a seven-year term. He is the tenth governor of the Bank of Canada. As Governor, he is also Chairman of the Board of Directors of the Bank for International Settlements (BIS). He currently chairs both, the BIS Audit Committee and the Consultative Council for the Americas.
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.
