Bank of Canada holds key rate for first time in a year, leaves door open to hikes
Posted: Mar 10th, 2023In: ConstructionNewsPhoto: Bank of Canada OTTAWA – The Bank of Canada is holding its key interest rate steady for the first time in a year while reiterating its wait-and-see approach to monetary policy. The central bank said Wednesday that it has decided[...]
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GTA new home market quiet in January: BILD Report
Posted: Feb 24th, 2023In: ConstructionNewsThe GTA new home market saw a slow month in January, according to the Building Industry and Land Development Association (BILD). There were 567 new home sales in January, which was down 81 per cent[...]
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Slowing growth a `good thing’ when economy is overheated: BoC’s Macklem
Posted: Feb 15th, 2023In: ConstructionNewsOTTAWA – Bank of Canada governor Tiff Macklem says that although a slowing economy may not seem like a good thing, it is when the economy is overheated. Speaking in Quebec City Tuesday, Macklem said that higher interest rates are[...]
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BoC considered not raising rates last month, but hot economy swayed decision
Posted: Feb 13th, 2023In: ConstructionNewsBank of Canada Governor Tiff Macklem at the January 25, 2023 interest rate announcement meeting OTTAWA – The Bank of Canada contemplated not raising interest rates last month but with the economy outperforming expectations, its governing council ultimately decided[...]
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Interest rate hikes: The Bank of Canada’s ‘resolute’ fight against inflation could threaten its credibility
Posted: Jan 30th, 2023In: ConstructionNewsTiff Macklem, Governor of the Bank of Canada, holds a press conference at the Bank of Canada in Ottawa on Jan. 25, 2023. THE CANADIAN PRESS/Sean Kilpatrick Ellen D. Russell, Wilfrid Laurier University The Bank[...]
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Bank of Canada hikes key interest rate by quarter point, says it plans to hold
Posted: Jan 26th, 2023In: ConstructionNewsOTTAWA – The Bank of Canada delivered what it expects to be its last interest rate hike of the cycle as it pauses to assess the effects of higher rates on the economy. The central bank raised its key interest rate by a quarter of a percentage[...]
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Bank of Canada governor says rate hikes are working but it needs to stay the course
Posted: Dec 13th, 2022In: ConstructionNewsThe Bank of Canada expects to see a clear pullback in inflation by the spring, but it isn’t taking any chances in its efforts to get the inflation rate back to two per cent, said governor Tiff Macklem on[...]
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Bank of Canada hikes key rate by half percentage point, signals possible pause
Posted: Dec 7th, 2022In: ConstructionNewsOttawa: Bank of Canada (Photo: Wladyslaw via Wikimedia Commons) OTTAWA – The Bank of Canada hiked its key interest rate by half a percentage point Wednesday to 4.25 per cent – the highest it’s been since January 2008 –[...]
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Long term rate hikes effects will be ‘more powerful’ than people think: Poloz
Posted: Nov 26th, 2022In: ConstructionNewsOTTAWA – The full effects of interest rate hikes have yet to be felt – and will be “even more powerful” than many anticipate, said former Bank of Canada governor Stephen Poloz Thursday in a speech about ways Canada can chart a path[...]
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Inflation relief measures should be well targeted and temporary, says Macklem
Posted: Nov 24th, 2022In: ConstructionNewsOTTAWA – Governments looking to provide inflation relief to Canadians should choose measures that are well targeted and temporary, says Bank of Canada governor Tiff Macklem. At a House of Commons committee meeting Wednesday, Conservative MP Adam Chambers asked the governor[...]
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