BoC’s Macklem outlines the bank’s inflation strategy Bank of Canada Governor Tiff Macklem said that the central bank will act to curb inflation if current price pressures remain and begin to appear more permanent in the near future. Macklem said last week that the central bank is expecting elevated prices to be a temporary state [&hellip…
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Canada’s inflation rate is in – and it’s big The latest figures from Statistics Canada indicate that the national inflation rate has reached a decade-high of 3.6% in May, owing to the accelerated growth of costs in shelter, energy, passenger vehicles, and consumer goods. The reading slightly exceeded analysts’ expectations of an increase to 3.5%, [&hellip…
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The latest Bank of Canada announcement on its key overnight rate was viewed by many as signalling bad news for variable rate mortgages. While restating its commitment to keeping the rate at the lower bound of 0.25%, the Bank revised its inflation target, forecasting that it would be sustainable by the second half of 2022 [&hellip…
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