Bank of Canada bumps up rate
Filed Under Main Content · Tagged: Bank Canada, Bank Of Canada, Basis Points, Belief, Budget, Calgary Canada, Calgary Herald, Canada Banks, Caution, Commercial Banks, Economy, Global Recovery, Governments, Growth Outlook, Households, Interest Rate Decision, Pace, Prime Lending Rates, Rate Hike, Temper
Calgary Herald- The Bank of Canada raised its benchmark policy rate by 25 basis points to 0.75 per cent, even though it scaled back its growth outlook on the belief budget cutting among households and governments in advanced economies will "temper" the pace of the global recovery.
Many of Canada’s commercial banks followed suit by raising their prime lending rates.
The central bank acknowledged the economy is weaker than initially believed — but not feeble enough to call off yet another rate hike and likely more in the future.
Certainly, the interest-rate decision delivered yesterday teemed with caution. The central bank’s statement accompanying its decision highlighted how a "greater emphasis" on budget cutting among governments and households would slow the pace of the global recovery…
Bank of Canada raises key overnight interest rate to .75%
Filed Under Main Content · Tagged: April, Bank Canada, Bank Of Canada, Belief, Benchmark, Budget, Business Investment, Confident Consumer, Gdp, Gdp Canada, Global Recovery, Governments, Growth Outlook, Households, Interest Rate, National Bank, Pace, Post Canada, Temper
National Post- The Bank of Canada raised its benchmark policy rate Tuesday to 0.75% even though it scaled back its growth outlook on the belief budget cutting among households and governments in advanced economies is expected to “temper” the pace of the global recovery.
GDP in Canada is now expected to expand 3.5% this year and 2.9% in 2011, the central bank said, compared to its previous outlook in April of 3.7% and 3.1% growth, respectively. However, business investment and trade are expected to make a larger contribution to Canadian growth, which up until now has relied heavily on a confident consumer…
Bank of Canada raises key overnight interest rate to .75%
Bank of Canada raises key interest rate to 0.5 per cent
Filed Under Main Content · Tagged: Backdrop, Bank Canada, Bank Interest, Bank Of Canada, Basis Points, Considerable Uncertainty, Domestic Developments, Domestic Economy, Economic Outlook, Europe, Global Recovery, Interest Rate, Rate Hikes, Unrest
Times Colonist- For the first time in nearly three years, the Bank of Canada on Tuesday hiked its key interest rate, by 25 basis points to 0.5 per cent, as the domestic economy rebounds strongly against the backdrop of an "uneven" global recovery.
However, it signaled in its accompanying statement there is "considerable uncertainty" in the economic outlook given fiscal and financial unrest in Europe. As a result, further rate hikes "have to be weighed carefully" against global and domestic developments…
Bank of Canada raises key interest rate to 0.5 per cent
Carney warns of Greek dangers
Filed Under Main Content · Tagged: Bank Canada, Bank Of Canada, Bank Of Canada Governor, Canadian Economy, Debt Crisis, Debt Situation, Financial Crisis, Global Recovery, Indirect Threat, Interest Rates, Mark Carney, Ottawa Citizen, Pace, Risk, Senate Committee, Senators, Testimony, Timeline, Western Countries
Ottawa Citizen- The Greek debt crisis and high borrowing by many Western countries pose an indirect threat to the Canadian economy and could drag down the pace of growth if not resolved, Bank of Canada governor Mark Carney said Thursday.
Carney, in testimony to a Senate committee on banking, also repeated comments made earlier this week that there is no preordained timeline for the central bank to raise interest rates as Canada leaves the financial crisis behind. "The debt situation is one of the largest, arguably the largest, risk to securing the global recovery," he told the senators. "The net result of this would be negative for growth in Canada…”
