Prime Rate

The Bank of Canada cut its benchmark interest rate by a quarter point as it warns trade uncertainty is already hurting the Canadian economy. The move marks the central bank’s seventh consecutive interest rate cut and brings its key rate down to 2.75 per cent. While inflation has been well-behaved and the economy was picking […]

The Bank of Canada delivered another interest rate cut today, reducing its policy rate by a quarter-percentage point to three per cent. It’s the central bank’s sixth straight cut since June, with inflation sitting around two per cent. It says the cuts are having an impact, with lower interest rates boosting household spending and the […]

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 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 […]

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 […]

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.  […]