Categories: Breaking NewsBusinessCanadian NewsPolitics

Bank Of Canada Raises Interest Rate To Highest level Since 2009

Donate

The Governor of the Bank of Canada Stephen Poloz announced earlier today that the BOC’s overnight benchmark rate would rise by a quarter point to 1.5 percent on Wednesday, its highest level since 2009.

This is in the second hike this year and fourth over the past 12 months.

“Governing Council expects that higher interest rates will be warranted to keep inflation near target and will continue to take a gradual approach, guided by incoming data,” the bank said.

The rate move signals policymakers are determined to bring rates back to pre-recession levels and are confident in the Canadian economy, even though we are facing steep competition from the United States, and could be walking straight into a trade war.

Comments are closed.

Share
Published by
Ali Taghva

Recent Posts

  • Canadian News
  • International News

Canadian Muslim suspected to be involved in Kenya hotel terrorist attack that claimed the lives of 21 people

A Canadian man is one of the five people suspected of assisting an Islamic extremist attack at a Nairobi, Kenya…

7 mins ago
  • Opinion
  • Politics

Wakerell-Cruz: Andrew Scheer comes off as a used car salesman, but Bernier is a con-man

Scheer isn't the Conservative Superman that many of us wanted, But putting our trust in Bernier seems short sighted.

4 hours ago
  • Alberta News
  • Analysis
  • Canadian News
  • Opinion
  • Politics

Is Trudeau risking reconciliation by putting a failed Veterans Affairs Minister in charge?

In a statement to The Post Millennial, Anderson said “ Is this new minister ready to deal with the corruption,…

5 hours ago
  • B.C. News
  • Canadian News
  • Politics

The mainstream media abuses former Burnaby South candidate Karen Wang’s mother in media frenzy

In the video, Wang's poor mother, who required support from a walking stick was descended upon like prey by a…

17 hours ago
  • Canadian News
  • Opinion
  • Politics
  • Quebec News

Trudeau offers $140 million to compensate Quebec for border crossings

Ottawa has offered to cover less than 50% of the costs to cover border crossings.

22 hours ago
  • Canadian News
  • Culture

Canada’s “Prince of Pot” accused of sexual assault and grooming underaged girls

Marc Emery, the so-called “Prince of Pot” of Canada, has been accused of sexual harassment and grooming by a former…

22 hours ago