Prime Rate

Bank of Canada cuts key interest rate for first time in more than four years

Bank of Canada cuts key interest rate for first time in more than four years

Jun 5, 2024 | 7:59am
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 […]
Bank of Canada holds key rate steady at five per cent, says too early to cut

Bank of Canada holds key rate steady at five per cent, says too early to cut

Mar 6, 2024 | 9:03am
The Bank of Canada is holding its key interest rate steady at five per cent today, arguing it is still too soon to start lowering rates. The central bank says inflation has continued to ease and the economy is weakening but underlying price pressures are still persistently high. Canada’s inflation rate dropped to 2.9 per […]
Inflation holds at 3.1% in November as progress in tamping down price growth stalls. Inflation up slightly in Saskatchewan

Inflation holds at 3.1% in November as progress in tamping down price growth stalls. Inflation up slightly in Saskatchewan

Dec 19, 2023 | 10:14am
Canada’s annual inflation rate was unchanged last month, holding steady at 3.1 per cent as progress on tamping down price growth stalled. The November consumer price index report released Tuesday from Statistics Canada shows higher prices for recreation and clothing put upward pressure on inflation. Provincially, the rate of inflation in Saskatchewan climbed to 2.3 per cent from […]
Bank of Canada holds key interest rate at 5%, keeps door open to more rate hikes

Bank of Canada holds key interest rate at 5%, keeps door open to more rate hikes

Oct 25, 2023 | 8:26am
The Bank of Canada held its key interest rate steady at five per cent, but hasn’t ruled out future rate hikes as price pressures remain high.   “With clearer signs that monetary policy is moderating spending and relieving price pressures, governing council decided to hold the policy rate at five per cent,” the Bank of Canada said in a news release on Wednesday.  […]