It's the news that millions of Canadians have been waiting for. The Bank of Canada has ended their historic interest rate increase cycle, by cutting their key rate of the first time since the start of the COVID-19 pandemic. Our Mackenzie Gray visited the Bank of Canada Wednesday morning to break down governor Tiff Macklem's decision.
The ECB welcomed the fall in price growth as it trimmed its deposit rate to 3.75 per cent from a record 4.0 per cent, its first cut since 2019.But it also raised its inflation forecasts for this year and the next, stressed any further rate reduction would depend on incoming data and reaffirmed that borrowing costs needed to remain high enough to keep a lid on prices.
But some stronger-than-expected data about euro zone inflation, wages and economic activity over the last few weeks has fueled fears of a more difficult “last mile” on the way to the ECB’s goal – a concern often expressed by influential board member Isabel Schnabel.Gas prices have dropped in Canada.
Bank Of Canada Central Bank Interest Rate Economy World
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European Central Bank has significant room for rate cuts, Bank of France governor saysFrancois Villeroy de Galhau has repeatedly made the case for the ECB adopting an approach of ‘maximum optionality’ after June
Source: globeandmail - 🏆 5. / 92 Read more »
Premarket: Global stocks near all-time highs ahead of expected ECB rate cutBut what the European central bank does after that remains subject to much debate
Source: globeandmail - 🏆 5. / 92 Read more »
ECB Rate Cut Will Be Rare Bright Spot in Troubled Euro RegionThis week’s interest-rate cut is a milestone for the European Central Bank.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Banks lower prime rates after Bank of Canada moveTORONTO — Canadian banks are lowering their prime rates after the Bank of Canada cut its benchmark rate for the first time in four years. Banks including RBC, TD, BMO, CIBC and Scotiabank have lowered their rates to 6.95 per cent from 7.
Source: PGCitizen - 🏆 65. / 51 Read more »
Banks lower prime rates after Bank of Canada moveTORONTO — Canadian banks are lowering their prime rates after the Bank of Canada cut its benchmark rate for the first time in four years. Banks including RBC, TD, BMO, CIBC and Scotiabank have lowered their rates to 6.95 per cent from 7.
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »
Banks lower prime rates after Bank of Canada moveTORONTO — Canadian banks are lowering their prime rates after the Bank of Canada cut its benchmark rate for the first time in four years. Banks including RBC, TD, BMO, CIBC and Scotiabank have lowered their rates to 6.95 per cent from 7.
Source: SooToday - 🏆 8. / 85 Read more »