Feds seeking lower credit-card interest rates over COVID-19

Feds seeking lower credit-card interest rates over COVID-19

OTTAWA — The federal government is asking banks and credit-card companies to lower interest rates for Canadians, many of whom are struggling financially because of the COVID-19 pandemic. The government is also looking at extending lower-interest credit directly to consumers, Prime Minister Justin Trudeau said, in his daily update to Canadians on Thursday. “I can […]

How vulnerabilities like debt can affect interest rates

How vulnerabilities like debt can affect interest rates

Policy that’s right today may not be right later on Financial vulnerabilities are particularly tricky for a central bank. For one thing, they can change the impact of interest rates on the economy over time. Lowering interest rates can boost the economy in the short term. But it can also encourage people to take on […]

Bank of Canada Interest Rate Announcement

Bank of Canada Interest Rate Announcement

September 4, 2019 OTTAWA — On Wednesday, September 4, 2019, the Bank of Canada will announce its decision on the target for the overnight rate. A press release will provide a brief explanation of the decision. Time 10:00 (Eastern Time) Lock-Up At 08:30 (ET), journalists are invited to review the rate announcement press release, under […]

Bank of Canada publishes its 2020 schedule for policy interest rate announcements, the release of the Monetary Policy Report and other major publications

Bank of Canada publishes its 2020 schedule for policy interest rate announcements, the release of the Monetary Policy Report and other major publications

The Bank of Canada today published its 2020 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report and reconfirmed the scheduled interest rate announcement dates for the remainder of this year. The Bank also published its schedule for the release of the Financial System Review and the winter through […]

Bank of Canada to become the administrator of key interest rate benchmark

Bank of Canada to become the administrator of key interest rate benchmark

The Bank of Canada today announced its intention to become the administrator of the Canadian Overnight Repo Rate Average (CORRA), a key interest rate benchmark for financial markets. The Bank will take over this role from the current administrator, Refinitiv, when enhancements to CORRA take effect next year. The Bank will provide the rate as […]

Announcement on Canada’s Overnight Interest Rate Benchmark

Announcement on Canada’s Overnight Interest Rate Benchmark

July 16, 2019  OTTAWA – On Tuesday, July 16, 2019, the Bank of Canada will provide an update on the Canadian Alternative Reference Rate Working Group’s work to strengthen the Canadian Overnight Repo Rate Average (CORRA), an important benchmark for Canadian dollar financial markets.   Time 10:00 (Eastern Time) Place At 8:30 (ET), journalists are […]

NBA draft interest level at an all-time low around here

NBA draft interest level at an all-time low around here

Happy Draft Day! And, oh, how times have changed. I can honestly say I’ve paid less attention to what might happen tonight than I have for any other draft ever, even years when the locals haven’t had a pick or have had a late one that was impossible to guess at. Sure, I got the […]

Lower interest rates, Trump tells Fed — again

Lower interest rates, Trump tells Fed — again

U.S. President Donald Trump urged the Federal Reserve to lower interest rates in order to “rocket” the U.S. economy to new highs. Using his favourite policy weapon, Trump loaded a tweet into the chamber and fired away at the Fed on Tuesday, urging the central bank to lower its benchmark interest rate by as much as a […]

Keep calm in the face of rising interest rates

Keep calm in the face of rising interest rates

By Lesley-Anne ScorgiePersonal finance columnist Sun., Sept. 9, 2018 We live in a postage-stamp-sized condo in one of the most expensive neighbourhoods in Canada. When I first moved to Toronto from Calgary three years ago, I was single and I bought my place because it had an efficient layout, a view of the lake, plus […]