interest rates

Here is a roundup of stories from The Canadian Press designed to bring you up to speed… Canada set to provide details on defence funding Canada is expected to provide more details about its plan to meet defence spending targets in an effort to quell concerns that have dogged the prime minister during this week’s […]

The Bank of Canada cut its key interest rate for the first time in more than four years today, marking a major turning point in its fight against inflation. Governor Tiff Macklem says the Bank of Canada has more confidence inflation is moving closer to its two per cent target, citing various indicators that suggest […]

The inflation rate ticked up from 2.8 per cent in February to 2.9 per cent last month as we paid more for gasoline. Statistics Canada reports gas prices rose 4.5 per cent from a year ago, partly due to an increase in global oil prices. Shelter prices rose up 6.5 per cent, mortgage interest costs jumped 25.4 […]

Canada’s unemployment rate jumped to 6.1 per cent in March as more people looked for work, Statistics Canada reported Friday. The figure is up from 5.8 per cent in February and marks the largest increase in the unemployment rate since summer 2022. The federal agency’s labour force survey shows employment was little changed last month, […]

The Canadian economy added 41,000 jobs in February as employment gains continue to lag strong population growth in the country. The federal agency’s labour force survey released Friday says the unemployment rate ticked up to 5.8 per cent last month. Job gains were spread across several industries in the services-producing sector, with the strongest employment growth in […]

Food prices will keep rising in 2024, though at a slower pace, according to the latest Food Price Report. The 14th annual report by Dalhousie University, the University of British Columbia, the University of Guelph and the University of Saskatchewan predicted that food prices will rise between 2.5 per cent and 4.5 per cent next year as […]

Canada’s unemployment rate ticked up to 5.8 per cent last month, as high interest rates weigh on job creation at a time when the country’s population is growing rapidly. Statistics Canada released its November labour force survey Friday, showing the economy added a modest 25,000 jobs, slightly surpassing forecasters’ expectations. Manufacturing and construction saw the […]

The inflation rate slowed to 3.1 per cent on a year-over-year basis, down from 3.8 per cent in September, as the price of gasoline fell, Statistics Canada said Tuesday. The agency said the price drivers paid for gasoline in October fell 7.8 per cent from a year earlier compared with a 7.5 per cent increase […]

Canada’s annual inflation rate rose to 3.3 per cent in July as worries grow that progress on getting prices under control will stall. Statistics Canada released its July consumer price index report Tuesday, which shows price growth gained pace last month. This comes after inflation tumbled to 2.8 per cent in June, falling within the Bank of Canada’s target […]

The Bank of Canada raised interest rates again on Wednesday and released new projections that suggest it will take longer to get inflation back to two per cent. The central bank hiked its key interest rate by a quarter of a percentage point, bringing it to five per cent. Forecasters were widely anticipating the central […]