The Latest Breaking News from Bank of Canada

Ottawa (AFP) - Canada's economy stalled at the end of 2022 with zero growth, the government statistical agency said Tuesday, coming in below analysts' expectations.

The Bank of Canada “resolutely” declared it will fight inflation by raising interest rates. To demonstrate its unwavering commitment to reaching the bank’s two per cent inflation target, today’s eighth consecutive interest rate hike brings the policy rate to 4.5 per cent. The bank expects to hold the rate for…

Ottawa (AFP) - Canada's central bank on Wednesday hiked its key lending rate by 50 basis points to 4.25 percent, saying its aggressive moves to rein in inflation were working but that the economy was still too hot.

Recent high food price inflation has plagued many Canadian families, especially those on tight budgets. Statistics Canada reported in October that in-store food prices increased at a faster rate than the all-items Consumer Price Index for the 11th month in a row.

In his recent book, Values: Building a Better World for All, economist and former governor of the Bank of Canada and Bank of England Mark Carney argued that economic activity should be intentionally linked to the social and political outcomes it generates.

Following closely on the heels of the European Central Bank and the U.S. Federal Reserve Board, the Bank of Canada has raised its target interest rate by 50 basis points. This is its sixth interest rate hike this year.

London (AFP) - The euro held above parity with the dollar Thursday but eurozone stocks dropped as the European Central Bank prepares to announce another big hike to interest rates in the face of sky-high inflation.

Hong Kong (AFP) - The euro, pound and yen all held their gains against the dollar Thursday and most equities rose as traders grow increasingly hopeful the Federal Reserve will slow its pace of interest rate hikes.

Top coins rallied Wednesday evening as the global cryptocurrency market cap rose 3.1% to $1 trillion at 9:08 p.m. EDT.