Poilievre says he would impeach Bank of Canada governor if he forms government

Candidate Pierre Poilievre makes a point during the Conservative Party of Canada leadership debate in English in Edmonton on May 11.Jeff McIntosh/The Canadian Press Conservative leadership candidate Pierre Poilievre has said he would remove the governor of the Bank of Canada if he forms government, a violation of the convention that separates central banking from … Read more

Pierre Poilievre will say just about anything

It’s not that people don’t like watching bankers get pissed off: it’s a subplot in several great movies. In a Conservative leadership campaign defined by convoy praise and high school debate club fires, Pierre Poilievre also takes time to attack the Bank of Canada. On Sunday, former Bank Governor David Dodge replied: ‘Well, they’re *** … Read more

The rumble in Ontario’s cottage country has died down

A cottage sits on a lake in Muskoka, the heart of Ontario’s cottage country. Brokers in the province’s cottage region say the housing boom there may have started to cool.Mark Blinch/The Globe and Mail The real estate chill in the Toronto area has spread to Ontario’s cottage country. “Gradually sanity is returning to our market,” … Read more

Bank of Canada reaches out to Indigenous groups on economic reconciliation

GATINEAU, Que. – A senior Bank of Canada official said the central bank will reach out to Indigenous groups over the next two years to help define what economic reconciliation means and what its role should be. In a speech to the Indigenous Prosperity Forum in Gatineau, Que., Deputy Governor Lawrence Schembri said the central … Read more

Toronto home sales drop 27% in April, house prices fall

Just over 8,000 homes sold in Toronto in April, down 27% from March and 41% from April last year.CARLOS OSORIO/Reuters Toronto’s housing market slowed in April as sales fell 27% and home prices fell as buyers paused amid rising borrowing costs. Just over 8,000 homes sold last month – down 27% from March and 41% … Read more

Will the usual Liberal tactic of accusing the Conservatives of being pro-gun and anti-abortion work on Pierre Poilievre?

Conservative MP and leadership candidate Pierre Poilievre arrives for a news conference outside the Bank of Canada in Ottawa on April 28.Justin Tang/The Canadian Press Earlier this week, Conservative Party leadership candidate Pierre Poilievre held a press conference and once again swept the Bank of Canada. The message was confusing – something about banning the … Read more

Interest rate hikes cannot magically beat inflation in Canada

Is the interest rate a magic wand to fight inflation? Given February’s 5.7% inflation rate, the Bank of Canada—as expected—raised its target for the overnight rate to 1.0% from 0.5 on April 13. At that time, the consensus among economists was that the Bank would raise the policy rate by another 50 basis points in … Read more

Canadian economy grew 1.1% in February, says StatCan

OTTAWA — Canada’s economy surged in February as pandemic-related restrictions eased, fueling economists’ expectations that the Bank of Canada will opt for another oversized rate hike in June. Statistics Canada said Friday that real gross domestic product rose 1.1% in February to post its biggest monthly gain since March 2021. The result was the ninth … Read more

Key interest rate could soon rise by half a percentage point, central bank says

OTTAWA – The Governor of the Bank of Canada is signaling that Canada’s key interest rate could rise another half a percentage point in June to help control inflation. Tick ​​Macklem is appearing before the House of Commons Standing Committee on Finance today. Two weeks ago, the central bank raised its key interest rate by … Read more

Bank of Canada Governor Tiff Macklem says he won’t rule anything out on rates

TORONTO — On a day when the Federal Reserve spooked markets with its tough rhetoric on interest rates, Bank of Canada Governor Tiff Macklem said he wouldn’t rule anything out “about the trajectory central bank interest rates and the taming of Canada – controlling inflation. Macklem spoke to reporters virtually Thursday from Washington, D.C., where … Read more