yay! now lets get the mf union jobs out to do some shitty roadwork and pretend economy is freaking booming to the moon!
Bank of Canada increases overnight rate target to 1 1/4 per cent
The Bank of Canada today increased its target for the overnight rate to 1 1/4 per cent. The Bank Rate is correspondingly 1 1/2 per cent and the deposit rate is 1 per cent. Recent data have been strong, inflation is close to target, and the economy is operating roughly at capacity. However, uncertainty surrounding the future of the North American Free Trade Agreement (NAFTA) is clouding the economic outlook. The global economy continues to strengthen, with growth expected to average 3 1/2 per cent over the projection horizon. Growth in advanced economies is projected to be stronger than in the Bank’s October ... (full story)
Added at 10:04am
Bank of Canada Raises Rates But Cautions Stimulus Still Needed
The Bank of Canada pushed forward with another quarter-point interest rate increase and said more hikes are likely coming, even as it cautioned it isn't in any rush to return rates to more normal levels. Policy makers led by Governor Stephen Poloz increased the benchmark overnight rate to 1.25 percent, the highest since the global recession and their third hike since July. The move is a nod to a red-hot economy running up against capacity with a jobless rate at the lowest in more than four decades. At the same time, central bank officials repeated their dovish language about moving ahead cautiously and warned they ... (full story)