Canada\u0027s inflation rate has returned to the country\u0027s target range after a tumultuous couple of years of soaring prices.
Though the decline in inflation was praised by governor Tiff Macklem, he also issued a warning that the central bank is ready to raise interest rates further if needed.Given the progress made so far, the Bank of Canada’s hawkishness might seem confusing: why raise interest rates even more when inflation has fallen so significantly?
The central bank has been adamant that it’s aiming for two per cent inflation: not more and not less. That’s because core measures of inflation — which strip out volatility and are better at gauging underlying price pressures _ are still high. And with the economy so far outperforming what the central bank and forecasters were anticipating for 2023, the Bank of Canada says it felt it needed to take rates higher.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Inflation has fallen, so why hasn't the Bank of Canada backed off rate hikes?Statistics Canada reported on Tuesday that inflation fell to 2.8 per cent in June, down significantly from the eye-popping peak of 8.1 per cent reached last summer.
Lire la suite »
Inflation has fallen, so why hasn't the Bank of Canada backed off rate hikes?Canada\u0027s inflation rate has returned to the country\u0027s target range after a tumultuous couple of years of soaring prices.
Lire la suite »
'Surprised if Bank of Canada continued to raise rates': What economists are saying about retail salesConsumers appear to be ramping down on their spending, leading some to think that could act as a stay on more rate hikes. Read on.
Lire la suite »
Posthaste: Latest Bank of Canada rate hike to take toll on many people's finances59% of people expect the Bank of Canada\u0027s latest interest rate hike to have a negative impact on their finances, a survey says. Read on
Lire la suite »
Djokovic to skip National Bank Open in Canada due to fatigueNovak Djokovic will not play at next month's Canadian Masters in Toronto due to fatigue, organizers announced on Sunday.
Lire la suite »
Bank of Canada should stop hiking interest rates now: Benjamin TalCIBC\u0027s Benjamin Tal talks about why he thinks the Bank of Canada has started overshooting with interest rate hikes. Watch here.
Lire la suite »