Bank Of Canada Slashes Interest Rates By Another 50 Basis Points

RTTNews | Před 15 h 44 min
Bank Of Canada Slashes Interest Rates By Another 50 Basis Points

(RTTNews) - With inflation around 2 percent, the economy in excess supply, and recent indicators tilted towards softer than projected growth, the Bank of Canada on Wednesday announced its widely expected decision to slash interest rates by another half point.

The Bank of Canada said it decided to reduce its target for the overnight rate by 50 basis points to 3.25 percent, with the Bank Rate at 3.75 percent and the deposit rate at 3.25 percent.

The Canadian central bank also lowered interest rates by 50 basis points in October on the heels of three strait 25 basis point cuts.

The Bank of Canada said the decision to continue slashing rates is intended to support growth and keep inflation close to the middle of the 1-3 percent target range.

Noting that rates have been reduced substantially since June, the Bank of Canada said the need for further rate cuts would be evaluated "one decision at a time."

"Our decisions will be guided by incoming information and our assessment of the implications for the inflation outlook," the Bank of Canada said. "The Bank is committed to maintaining price stability for Canadians by keeping inflation close to the 2% target."

In its statement, the Bank of Canada noted the possibility U.S. President-elect Donald Trump's incoming administration will impose new tariffs on Canadian exports to the U.S. has increased uncertainty and clouded the economic outlook.

The Bank of Canada's next monetary policy decision is scheduled for January 29, 2025.

Značky : CAD
read more
Bank Of Canada Slashes Interest Rates By 50 Basis Points

Bank Of Canada Slashes Interest Rates By 50 Basis Points

Following three straight quarter point interest rate cuts, the Bank of Canada on Wednesday announced its widely expected decision to slash rates by a half point. The Bank of Canada said it decided to reduce its target for the overnight rate by 50 basis points to 3.75 percent, with the Bank Rate at 4 percent and the deposit rate at 3.75 percent.
RTTNews | Před 49 dny
Bank Of Canada Cuts Interest Rates By Quarter Point For Third Straight Meeting

Bank Of Canada Cuts Interest Rates By Quarter Point For Third Straight Meeting

For the third straight meeting, the Bank of Canada on Wednesday announced that is decided to lower interest rates by another quarter point. The Bank of Canada announced its widely expected decision to reduce its target for the overnight rate by 25 basis points to 4.25 percent, with the Bank Rate at 4.50 percent and the deposit rate at 4.25 percent.
RTTNews | Před 98 dny
Bank Of Canada Lowers Interest Rates By Another Quarter Point

Bank Of Canada Lowers Interest Rates By Another Quarter Point

In a widely expected move, the Bank of Canada on Wednesday announced its decision to lower interest rates by another quarter point. The Bank of Canada said it has reduced its target for the overnight rate by 25 basis points to 4.5 percent, with the bank rate at 4.75 percent and the deposit rate at 4.5 percent.
RTTNews | Před 140 dny
Bank Of Canada Lowers Interest Rates By A Quarter Point As Widely Expected

Bank Of Canada Lowers Interest Rates By A Quarter Point As Widely Expected

Citing continued evidence that underlying inflation is easing, the Bank of Canada on Wednesday announced it has decided to lower interest rates by 25 basis points. The Bank of Canada reduced its target for the overnight rate to 4.75 percent, with the bank rate at 5.0 percent and the deposit rate at 4.75 percent.
RTTNews | Před 189 dny
Bank Of Canada Leaves Rates Unchanged As Inflation Remains 'Too High'

Bank Of Canada Leaves Rates Unchanged As Inflation Remains 'Too High'

The Bank of Canada announced its widely expected decision to once again leave interest rates unchanged on Wednesday, saying inflation is still "too high." The Canadian central bank held its target for the overnight rate at 5.0 percent, with the bank rate at 5.25 percent and the deposit rate at 5.0 percent.
RTTNews | Před 245 dny
Bank Of Canada Leaves Rates Unchanged Amid Ongoing Inflation Concerns

Bank Of Canada Leaves Rates Unchanged Amid Ongoing Inflation Concerns

In a widely expected move, the Bank of Canada on Wednesday announced that it has once again decided to leave interest rates unchanged. The decision to leave rates unchanged came as the Bank of Canada said its Governing Council is still concerned about risks to the outlook for inflation, particularly the persistence in underlying inflation.
RTTNews | Před 280 dny
Bank Of Canada Leaves Rates Unchanged, Still Concerned About Inflation Outlook

Bank Of Canada Leaves Rates Unchanged, Still Concerned About Inflation Outlook

Citing the outlook for the economy and inflation, the Bank of Canada on Wednesday announced its widely expected decision to leave interest rates unchanged. The decision to leave rates unchanged comes as the Bank of Canada said its Governing Council is "still concerned about risks to the outlook for inflation, particularly the persistence in underlying inflation."
RTTNews | Před 322 dny