Posthaste: Bank of Canada a lot closer to inflation target — and rate cuts — than it thinks, strategist says vancouversun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vancouversun.com Daily Mail and Mail on Sunday newspapers.
The Bank of Canada said in its January Monetary Policy Report that it doesn’t expect the consumer price index to come close to its two per cent target until…
The Bank of Canada likely won’t make any change to the overnight interest rate next week. After announcing a conditional pause on interest rate hikes in January, the central bank is widely expected to make a second consecutive decision to hold. This is despite economic growth that’s been more resilient than expected so far this year. Indeed, though the January Monetary Policy Report anticipated GDP growth of 0.5%, we’re tracking it at closer to 2.5%. And labour markets remain exceptionally tight, with another 35,000 jobs created in March.
The central bank held its benchmark interest rate steady at 4.5 per cent on Wednesday, pausing its historic year-long campaign against inflation. The next rate decision is on April 12