The Canadian dollar has not exactly been having a good year against its American counterpart. From the start of 2024 through to October 9, the Canadian dollar lost 3.36% of its value compared to the U.S. dollar. The Canadian dollar, which is trading at 1.371 per U.S. dollar, or $0.7293 U.S. cents, has weakened by […]
Tag Archives: Canadian economy
The Bank of Canada cut its overnight lending rate, which impacts interest rates charged for mortgages and other loans, for the third time, bringing interest rates down to 4.25%. The 25-basis-point cut was widely expected by Bay Street and follows similar cuts in June and July. The September 5 interest rate cut represents the third […]
In early June, the Bank of Canada cut interest rates for the first time since March 2020. The central bank cut its key overnight lending rate by 25 basis points to 4.75%. The big question is when the next interest rate cut will come. Will the Bank of Canada Cut Rates Again in July? At […]
After a year in which the Canadian economy experienced virtually no growth, the economy performed better than expected in the first quarter of 2024, with real gross domestic product (GDP) advancing 1.7% on an annual basis. That’s slower than the median forecast of 2.2% and below the Bank of Canada’s forecast of 2.8%, but it’s […]
Persistently high interest rates are taking a big bite out of the Canadian economy. In February, Canada’s gross domestic product (GDP) grew just 0.2% on a month-over-month basis. That’s lower than the 0.3% economists were expecting and well below Statistics Canada’s own advanced estimate of 0.4%. On an annual basis, Canadian GDP grew 0.8%, well […]
According to Statistics Canada, the country’s inflation rate inched up to 2.9% in March, juiced by higher gasoline prices. That’s up from 2.8% in February but still close to its 2% target. The March results were also in line with what Bay Street analysts were expecting. While the consumer price index (CPI) rose slightly, measures […]
It looks like the Bank of Canada will get what it wanted, a soft economic landing, in which growth has slowed considerably but avoided a recession. In less than two years, the Bank of Canada raised interest rates 10 times, from near zero to 5%. In June 2022, Canadian inflation hit its highest level in […]
Canada’s inflation rate unexpectedly slipped below 3% in January, into the Bank of Canada’s target range of 2% to 3%. There’s still work to do if the central bank wants to get inflation down to 2%, but to do so, it may need to keep interest rates higher for longer. That would be bad news […]
The TSX, Canada’s main stock market index, is made up of some of the largest companies in the country, so it’s natural to expect the performance of the TSX to track Canada’s economic growth. That’s why investors pay close attention to economic gages like gross domestic product (GDP), inflation, employment levels, consumer spending, and the […]
The year 2023 defied expectations for Bay Street and Wall Street. Despite stubbornly high inflation and decades-high interest rates, the U.S. stock market closed out the year with one of its best performances. The S&P 500 advanced 24%, its longest winning streak since 2004, while the Nasdaq soared more than 43%, its highest annual gain […]
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