Omicron - Fix Team

Bank of Canada hikes key interest rate by full percentage point

By:Building .caPosted: Jul 14th, 2022In: ConstructionNews

OTTAWA – The Bank of Canada raised its key interest rate by a full percentage point on Wednesday, marking the largest single rate hike since August 1998. The central bank’s decision signalled a more aggressive approach to bringing skyrocketing inflation,[...]

Bank of Canada expected to jack up interest rates as inflation persists

By:Building .caPosted: Jun 5th, 2022In: ConstructionNews

Experts predict the Bank of Canada will likely announce another major interest rate boost Wednesday as it tries to rein in runaway inflation. After keeping its key interest rate near zero since March 2020, the central bank unveiled a pair of rate hikes[...]

Bank of Canada open to hiking interest rates past 3% in bid to bridle inflation

By:Building .caPosted: Jun 4th, 2022In: ConstructionNews

OTTAWA – The Bank of Canada may need to raise its key interest rate to three per cent or beyond – more than double its current level – to ensure inflation doesn’t settle in for the long haul, its[...]

Bank of Canada increases policy interest rate by 50 basis points, continues QT

By:Building .caPosted: Jun 2nd, 2022In: ConstructionNews

The Bank of Canada (BoC) increased its target for the overnight rate to 1½% on Wednesday, with the Bank Rate at 1¾% and the deposit rate at 1½%. The Bank is also continuing its policy[...]

The Bank of Canada hiked rates again. Here’s a timeline of how we got here

By:Building .caPosted: Jun 1st, 2022In: ConstructionNews

The Bank of Canada raised its overnight rate by half a percentage point to 1.5 per cent Wednesday and signalled more increases to come, as it aims to curb out-of-control inflation, which is now at its highest level in[...]

Bank of Canada on track for rate hike after GDP growth slows: Economists

By:Building .caPosted: May 31st, 2022In: ConstructionNews

OTTAWA – Economists say the Bank of Canada is still on track for another oversized rate hike on Wednesday after the latest Statistics Canada data showed the pace of economic growth slowed in the first quarter. The federal agency said Tuesday real gross[...]

Inflation sets fresh three decade high at 6.8% in April with little sign of cooling

By:Building .caPosted: May 21st, 2022In: ConstructionNews

OTTAWA – The cost of nearly everything at the grocery store continued to climb higher to help push the annual inflation rate to a fresh three-decade high in April and economists warn prices could continue to heat[...]

BoC’s Gravelle says “perfect storm” fueling inflation, but key differences from ’70s

By:Building .caPosted: May 12th, 2022In: ConstructionNews

MONTREAL – Inflation is at a multi-decade high, but the situation is different than the 1970s when high inflation was combined with high levels of joblessness and slow or recessionary economic growth, a senior Bank of Canada official said Thursday. In[...]

Inflation picks up steam in March to hit 6.7% amid war in Europe, supply chain woes

By:Building .caPosted: Apr 21st, 2022In: ConstructionNews

OTTAWA – Canada’s inflation rate hit 6.7 per cent last month, the fastest annual increase in more than three decades as Russia’s attack on Ukraine pushed up oil prices and a pandemic-related supply chain crunch dragged[...]

Bank of Canada raises key rate to 1% and warns further hikes still to come

By:Building .caPosted: Apr 13th, 2022In: ConstructionNews

OTTAWA – The Bank of Canada raised its key interest rate by the highest amount in more than 20 years and warned more rate hikes are coming as it increased its outlook for inflation. The central bank hiked its policy interest[...]