Tag: Bank of Canada

Strong jobs market and savings built up since the pandemic spur consumer spending OTTAWA—As the Bank of Canada raised its trend-setting interest rate to 5 percent on July 12, it noted that households are on average in better financial shape than some reports might suggest.  Bank of Canada senior deputy governor Carolyn Rogers said the central bank wanted to take ...

Canada’s housing market has good reason to be rising despite 4.5 percentage points of Bank of Canada interest rate hikes since March last year. But policy-makers are taking steps to contain risks stemming from the housing market and analysts expect prices to start dropping. “I’m pretty sure the Bank of Canada is not happy seeing the housing market start to ...

Financial system review examines vulnerabilities in banking sector due to higher interest rates OTTAWA—Bank of Canada analysis shows that while global banking stresses have been contained and the Canadian banks remain robust, the effects of much higher interest rates are exposing vulnerabilities in the banking sector. These vulnerabilities can raise the cost of banks’ funding and thus make it harder ...