Ontario Premier Doug Ford attends a housing announcement in Belleville, Ont., on Friday, March 1, 2024. THE CANADIAN PRESS/Chris Young
On Wednesday morning, the Bank of Canada is slated to make an interest rate announcement and it is anticipated to maintain its key interest rate at five per cent, with most forecasting the first rate cut to come around June.Some economists expect the Bank of Canada will begin cutting interest rates around the middle of the year.
Canada’s economy grew at an annualized rate of one per cent in the fourth quarter, exceeding the central bank’s most recent forecast and economists’ expectations. On a per-capita basis, the real gross domestic product dwindled in that same period. The PBO says the economy will likely grow by 0.8 per cent this year, slightly lower than the central bank’s projection of one per cent. It also anticipates the federal deficit to grow $46.8 billion for the current fiscal year so long as no new measures are introduced – this means it would exceed the Canadian government’s fall projection of $40 billion.
Source: Loan Digest (loandigest.net)
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.
Athletes from northwestern Ontario are off to a strong start at the Ontario Winter GamesA member of Team Northern Ontario takes a shot at Superior CVI on Saturday.
Source: CBCTBay - 🏆 42. / 63 Read more »
Bank of Canada says housing affordability is about boosting supply, not lowering interest ratesBank of Canada Governor Tiff Macklem speaks during a fireside chat Tuesday, February 6, 2024 in Montreal. THE CANADIAN PRESS/Christinne Muschi
Source: CBCNews - 🏆 2. / 99 Read more »
Bank of Canada expected to hold interest rates this weekThe Bank of Canada is expected to preach patience at its interest rate announcement this week as economists say weakening economic conditions are setting the stage for rate cuts in the coming months.
Source: CP24 - 🏆 30. / 67 Read more »
Ontario Premier Doug Ford issues statement following death of former prime minister Brian MulroneyOntario Premier Doug Ford released a statement Thursday following the death of former prime minister Brian Mulroney, calling the 18th leader of Canada a 'role model.'
Source: CTVToronto - 🏆 9. / 84 Read more »
Bank of Canada Governor says monetary policy cannot solve housing affordability problemBank of Canada Governor Tiff Macklem stated that monetary policy cannot solve Canada’s housing affordability problem or boost the country’s longer-term economic growth prospects. He emphasized that central bankers do not have control over other key economic variables.
Source: globeandmail - 🏆 5. / 92 Read more »
Bank of Canada Governor Warns Monetary Policy Can't Solve Housing Affordability ProblemsBank of Canada governor Tiff Macklem warns that monetary policy cannot solve housing affordability problems. While effective at controlling inflation, monetary policy has limitations and cannot address short-term price fluctuations or structural barriers behind the housing crisis.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »