MONTREAL, Jan 27 ― The Bank of Canada said yesterday it is keeping its benchmark overnight lending rate unchanged at 0.25 per cent despite inflationary pressures, citing the harmful effects of the Omicron variant on the economy.“With overall economic slack now absorbed, the Bank has removed its exceptional forward guidance on its policy interest rate,” the bank said in a statement.Inflation hit 4.8 per cent in December, the highest rate in 30 years, whereas the bank's target is two percent.
It said the goal of two per cent inflation will not be met until mid-2023, rather than in late 2022 as it had thought.
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:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Extend bank loan moratorium another 6 months, DAP tells govtBanks can afford it, RM20b profit last year - Guan Eng. Most awaited request..yes please..
Source: malaysiakini - 🏆 20. / 51 Read more »
Bank digital perlu merancang lebih awal untuk raih keuntungan, kata ahli panel | The Malaysian InsightRangka kerja perbankan digital banyak berkisar kepada segmen yang kurang mendapat perkhidmatan perbankan.
Source: msianinsight - 🏆 8. / 63 Read more »
Australian inflation surges in Q4, market bays for rate hikes | Malay MailSYDNEY, Jan 25 ― Australia's core inflation flew to its fastest annual pace since 2014 in the December quarter as fuel and housing costs led broad-based price pressures, a shock that will stoke market speculation of an early hike in interest rates. Data from the Australian Bureau of Statistics...
Source: malaymail - 🏆 1. / 86 Read more »
Senheng rated with ‘buy’ recommendation, premised on positive outlook | Malay MailKUALA LUMPUR, Jan 25 ― Consumer electrical and electronics (E&E) retailer, Senheng New Retail Bhd (Senheng), which debuted on Bursa Malaysia’s Main Market today, has emerged as the most active stock this morning. In a note today, Rakuten Trade Sdn Bhd has made a ‘buy’ call on Senheng,...
Source: malaymail - 🏆 1. / 86 Read more »
Russia, Ukraine agree to keep ceasefire, new talks next month | Malay MailPARIS, Jan 27 — Moscow and Kyiv on Wednesday agreed at talks in Paris that all parties should observe a ceasefire in the east of Ukraine after more than eight hours of discussions which were hailed by a French diplomat as sending a “good signal”. A Russian troop build-up close to the...
Source: malaymail - 🏆 1. / 86 Read more »