Canada's Inflation Rate Accelerates Again, But Not As Sharply As Forecast
Inflation in Canada picked up speed again in June with prices rising at their fastest pace since January 1983, official data showed on Wednesday, but the rise was not as steep as forecast, leaving analysts unsure about how forcefully the Bank of Canada would respond.
Bank Of Canada Chief Sees Inflation "a Little Over" 8% As Soon As Next Week
The Bank of Canada expects inflation to go "a little over" 8%, as soon as next week when June's data is released, and stay in that range for a few more months, Governor Tiff Macklem told a business group in a webcast transcript released late Friday.
Bank Of Canada Chief: Inflation Likely To Tip 8% As Soon As Next Week
The Bank of Canada expects inflation to go "a little over" 8%, as soon as next week when June's data is released, and stay in that range for a few more months, Governor Tiff Macklem told a business group in a webcast transcript released late Friday.
Canadian Home Prices Continue To Plunge In June As Higher Rates Pinch
The price of a resale home in Canada fell 1.8% in June from last year, the first annual decline since May 2020, as the market continued to cool sharply from February's peak amid tighter borrowing conditions, data from Canada's realtors showed Friday.
Bank Of Canada Seen Set For Jumbo 75-bp Rate Hike As Inflation Bites
The Bank of Canada on Wednesday is expected to make its largest interest-rate increase since the late 1990s as the central bank hastens tightening to tackle an overheating economy and runaway inflation.
Sticker Shock, Border Delays Sour Hopes For Canadian Travel Boom
Rising prices, border restrictions and airport chaos are threatening hopes for a post-pandemic summer travel boom in Canada, stalling a tourism recovery and taking the sheen off the country as a destination, analysts and industry executives say.
Canada's Jobless Rate Drops To 4.9% In June, Economy Loses 43,200 Jobs
Canada's unemployment rate fell to a new record low 4.9% in June, beating expectations, even as the economy posted a surprise decline in jobs, while wages accelerated sharply, official data showed on Friday.
Canada's Jobless Rate Falls To New Low In June, 75-bp Rate Hike Likely
Canada's unemployment rate unexpectedly fell to a new record low in June, even as the economy posted a surprise decline in jobs, while wages accelerated sharply, official data showed on Friday, reinforcing calls for a supersized interest rate hike.
Canada's Annual Inflation Rate Gallops To Near 40-year High At 7.7%
Canada's annual inflation rate unexpectedly accelerated to 7.7% in May, the highest since January 1983, largely driven by higher gasoline prices, Statistics Canada data showed on Wednesday.
Canada Inflation Up Near 40-year High; Calls Mount For 75-bps Rate Hike
Canadian consumer prices increased in May at rates not seen since January 1983, ahead of analyst forecasts, driven by pricey gasoline, official data showed on Wednesday, upping pressure on the central bank to follow the U.S.
Crypto Regulation Efforts Need To Keep Pace With Market Growth -Bank Of Canada Official
The number of Canadians who own cryptoassets is growing rapidly and efforts to regulate the sector need to start keeping pace, a senior Bank of Canada official said, noting many people may not understand the risk of investing in products like bitcoin.
Bank Of Canada's Second 50-bps Hike Seen Locked In, But What Comes Next?
The Bank of Canada will almost certainly go ahead with its second consecutive half-point interest rate hike on Wednesday, as it scrambles to tame runaway inflation before price increases become self-fulfilling.
Bank Of Canada Prepared To Act 'More Forcefully If Needed' As It Hikes Rates
The Bank of Canada on Wednesday went ahead with a second consecutive half percentage point interest rate hike, as expected, and said it was prepared to act "more forcefully if needed" to bring inflation back to target.
Canada's First-quarter Growth Disappoints At 3.1%, April GDP Seen Up 0.2%
Canada's economy grew at an annualized rate of 3.1% in the first quarter, missing expectations but in line with central bank projections, while real GDP climbed 0.7% in March and likely rose 0.2% in April, Statistics Canada data showed on Tuesday.
Canada's First-quarter Growth Disappoints, But Unlikely To Sway BoC On Rate Hike
Canada's economic growth was not as robust as expected in the first quarter, dragged by lower export volumes, official data showed on Tuesday, though activity was bang-on central bank projections and unlikely to sway plans for an oversized rate hike in June.
Canada's Economy Gains Momentum In Q2, Rate Hikes Loom
Canada's economy was not as robust as expected in the first quarter, but had momentum heading into the second, official data showed on Tuesday, reinforcing the likelihood of another oversized rate hike from the central bank this week.
Canada's Budget Deficit Falls To C$95.57 Billion In Fiscal 2021/22 As Pandemic Wanes
By Julie GordonCanada's budget deficit in fiscal 2021/22 shrank to C$95.57 billion ($75.02 billion) from C$314.00 billion in the previous year, as emergency spending on the COVID-19 pandemic eased, preliminary data from the finance ministry showed on Friday.
Canada's Annual Inflation Rate Edges Up To 6.8% In April
Canada's annual inflation rate accelerated again in April, edging ahead of analyst expectations, largely driven by rising food and shelter prices, Statistics Canada data showed on Wednesday.
Canada Inflation Creeps Higher In April, Economists Warn More Pinch To Come
Canada's annual inflation rate rose faster than expected in April, official data showed on Wednesday, and analysts warned soaring used-car and gasoline prices could stoke the trend, raising pressure on the central bank to tighten policy quickly.
Canada Inflation Creeps Higher In April, Upping Pressure On Central Bank
Canada's annual inflation rate ticked up again in April, official data showed on Wednesday, exceeding analyst expectations and upping the pressure on the central bank to raise interest rates to keep price expectations in check.
Bank Of Canada Turns To Interest Rate Guidance As It Battles Inflation
Faced with runaway inflation, Canada's central bank has taken the rare step of providing guidance on the path of interest rates, as it aims to keep expectations anchored while it unwinds stimulus in an overheating economy.
Canada's April Jobless Rate Dips To 5.2%, Jobs Growth Less Then Expected
The Canadian economy added far fewer jobs than expected in April but the unemployment rate inched down to new record low of 5.2%, Statistics Canada data showed on Friday, setting the scene for another oversized rate hike by the central bank.
Canada's Trade Surplus Narrows As Imports, Exports Hit Record Highs
Canada's trade surplus with the world narrowed to C$2.49 billion in March from February, missing analyst expectations, as both imports and exports surged to record highs, data from Statistics Canada showed on Wednesday.
Canada's Trade Surplus Narrows As Imports Surge More Than Exports
Canada's trade surplus with the world narrowed to C$2.49 billion in March from February, missing analyst expectations, as imports rose more than exports, and February's surplus was revised up, data from Statistics Canada showed on Wednesday.
Analysis-From Boom To Glut: Canada's Housing Plan Could Backfire On Trudeau
The Canadian government's plan to ease runaway housing prices by rapidly ramping up the pace of home construction risks pushing up construction costs in the near term and could lead to oversupply in the long run, experts said.
Canada Records Second Surplus Of Fiscal 2021/22 In February As Year-to-date Deficit Continues To Shrink
Canada recorded its second surplus of fiscal 2021/22 in February, as its budget deficit for the first 11 months of the fiscal year shrunk considerably compared with the year-ago period, the finance ministry said on Friday.
Canada's First-quarter Economic Surge Adds To Rate Hike Pressure
The Canadian economy most likely grew by an annualized 5.6% in the first quarter, official data showed on Friday, well ahead of the Bank of Canada's recent projections, reinforcing the likelihood of another oversized interest rate increase.
Canada's Economy Likely Grew By 5.6% In First Quarter
The Canadian economy most likely grew by 5.6% on an annualized basis in the first quarter, Statistics Canada said on Friday, as growth in February beat expectations and real gross domestic product was seen increasing again in March.
Canadian Dollar To Stay At Core Of Financial System, Not Crypto -BoC
The Canadian dollar will remain at the center of the country's financial system, the central bank chief said on Monday, responding to questions about a Conservative leadership candidate's pledge to make the country the blockchain capital of the world.
Canada Open To More Measures To Curb Housing Speculation, Minister Says
Canada's ruling Liberals are eyeing more measures to curb housing speculation after introducing a foreign buyer ban and heftier taxes on property flippers in their budget earlier this month, the housing minister said on Thursday.
