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 to raise interest rate in July: Survey
Filed Under Main Content · Tagged: Bank Canada, Bank Of Canada, Basis Points, Double Dip Recession, Economic Data, Economic Recovery, Europe, Fears, Forecasters, Gauge, Interest Rate, Montreal Gazette, Opportunity, Overnight Rate, Pace, Policy Announcement, Probability, Quarter Point, Reuters Poll, Survey
The Montreal Gazette- The Bank of Canada will raise its key overnight interest rate next week, but the pace of subsequent hikes is less clear, according to Canadian primary dealers and global forecasters surveyed by Reuters.
The Reuters poll, released on Wednesday, showed a 73-per-cent median probability that the Bank of Canada will raise the overnight rate by 25 basis points, to 0.75 per cent from the current 0.50 per cent, at its next policy announcement date on July 20.
More than half of 42 forecasters surveyed say the central bank will not take every subsequent opportunity this year to raise rates by a quarter point, but will pause to gauge the pace of global economic recovery. Fears of a double-dip recession, Europe’s debt troubles and patchy U.S. economic data have weighed on markets in recent months…
Bank of Canada to raise interest rate in July: Survey
Bay Street still betting on July rate hike
Filed Under Main Content · Tagged: Bank Of Canada, Banks, Basis Points, Bet, Central Bank Governor, Charlottetown, Economists, Global Developments, Global Economy, Global Growth, Households, Interest Rate, Interest Rates, Mark Carney, Ottawa Citizen, Pace, Rate Hike, Stimulus, Temper, Uncertainties
Ottawa Citizen- Bay Street economists are betting the Bank of Canada will raise interest rates again in July even though the central bank governor reinforced Wednesday that more hikes are no sure bet as aggressive budget-cutting measures in Europe threaten the pace of global growth.
In a speech in Charlottetown, Mark Carney said “considerable uncertainties” remain in the global economy, and that the paring back of debt among households, banks and countries had “barely begun, and will … temper the pace” of global growth.
The central bank raised its key interest rate by 25 basis points on June 1, based on stronger-than-anticipated domestic growth. Prior to Wednesday’s speech, the betting among economists and traders was for Mr. Carney to increase rates again on July 20.
Mr. Carney, however, appeared to dampen expectations Wednesday, arguing any further removal of stimulus from the strongest Group of Seven economy over the next two years had to be balanced against global developments…
Bay Street still betting on July rate hike
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…
