Canada

2022 - 10 - 26

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Image courtesy of "Reuters"

Top Bank of Canada officials speak after rate decision (Reuters)

Below are some key quotes from a news conference by Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers on Wednesday after the ...

Combine that with the fact that there are now clear signs that the economy is slowing, we judge that it was appropriate to slow the pace of increase in our policy rates from very big steps to a big step." "At our previous to meetings in July and September, we increased by 100 (bps) and by 75. "We have growth stalling for the next several quarters... So we do expect interest rates will need to go up further and we will determine the pace based on developments going forward." We could certainly see renewed disruptions in the energy market and increases in energy prices. So with growth close to zero for the next several quarters, it's just about as likely that we'll get some small negatives as we get some small positives.

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Image courtesy of "Bloomberg"

Rate Move Risks Englufing Bank of Canada in Political Storm (Bloomberg)

The Bank of Canada's interest-rate surprise potentially opens up Governor Tiff Macklem to the accusation that he and his governing council are reacting to ...

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Image courtesy of "Terrace Standard"

Bank of Canada raises interest rate by half percentage point, says ... (Terrace Standard)

'We need the economy to slow down to rebalance demand and supply': Macklem.

It’s then expected to rebound to about 2.5 per cent in 2024. That change will weigh on economic growth, though higher immigration will partially offset their effects, the bank said. Canada’s annual inflation rate dropped slightly in September to 6.9 per cent but the cost of groceries continues to climb. “That could fuel inflation even further, because it makes anything that is imported from the U.S. But once we get through this slowdown, growth will pick up, our economy will grow solidly, and the benefits of low and predictable inflation will be restored.” Federal Reserve is expected to raise rates by three-quarters of a percentage point next week.

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Image courtesy of "Anadolu Agency"

US top diplomat heading to Canada for first official visit (Anadolu Agency)

Antony Blinken's trip billed as chance to strengthen partnership between North American allies on host of issues - Anadolu Agency.

[Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. He will be joined by Deputy Canadian Prime Minister Chryistia Freeland and Joly on a visit to a community center assisting Canadian refugees. Blinken will depart Thursday for the two-day trip that will take him to Ottawa and Montreal.

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