Inflation in the United States ticked up in October, driven by costlier rents, used cars and airfares, a sign that price increases might be levelling off after having slowed in September to their lowest pace since 2021. Consumer prices rose 2.6 per cent from a year earlier, the Labor Department said Wednesday, up from 2.4…
The Bank of Canada’s top decision makers worried the central bank’s oversized interest rate cut in October could send a dour signal about the state of the Canadian economy, according to new documents released Tuesday. The Bank of Canada delivered a rare 50-basis-point cut to its benchmark interest rate on Oct. 23, the fourth consecutive…
Canadian homeowners continue to face risks from a looming shock in mortgage renewals, even as the Bank of Canada lowers its benchmark interest rate, a report released Monday warns. The Canada Mortgage and Housing Corp. (CMHC) said Monday that the mortgage delinquency rate — the proportion of Canadians who have missed payments on their mortgage…
Despite an oversized interest rate cut from the Bank of Canada last week, experts who spoke to Global News say Canadians shouldn’t be expecting much more discounting on fixed mortgage rates. In fact, movements south of the border — a solid United States economy and the looming presidential election — could have more of an…
This article is part of Global News’ Home School series, which provides Canadians the basics they need to know about the housing market that were not taught in school. The Bank of Canada’s oversized interest rate cut this week might have some Canadian homeowners locked into costly mortgages fantasizing about a more affordable rate. Shubha Dasgupta, CEO of…
The Bank of Canada delivered an oversized interest rate cut of half a percentage point on Wednesday, focusing now on boosting the Canadian economy amid signs inflation is well under control. The central bank’s policy rate now stands at 3.75 per cent. Wednesday’s decision is the fourth consecutive drop in interest rates since June and…
After proceeding at a tentative, 25-basis-point cut pace in the first three interest rate cuts of its cycle, many economists expect the Bank of Canada will take an oversized step lower in its upcoming decision on Wednesday. The central bank’s policy rate stands at 4.25 per cent following the most recent quarter-point cut in early…
A new report from the Parliamentary Budget Officer says inflation and higher interest rates have eroded Canadians’ purchasing power since 2022, particularly for lower-income households. But wealthier households have seen their purchasing power rise thanks in big part to their investment income. Over a longer time period — since the last quarter of 2019 —…
Inflation is back at the coveted two per cent annual rate. Wage hikes have outpaced inflation for 19 months in a row. The Bank of Canada is three rate cuts into an easing cycle, with no signs of stopping anytime soon. The recent run of positive economic news had the Liberal government — long challenged…
The U.S. Federal Reserve’s 50-basis-point interest rate cut on Wednesday is having ripple effects north of the border, with experts pointing to implications for both the Bank of Canada and Canadian mortgage holders. The Fed delivered an oversized step for its first interest rate cut in four years, a move that surprised many economists who…
