Category: The Bank of Canada

Bank of Canada Lost $522 Million in Third Quarter, Marking First Loss in Its History

November 29, 2022
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The Bank of Canada lost $522 million in the third quarter of this year, marking the first loss in its 87-year history. In the central bank’s latest quarterly financial report, it says revenue from interest on its assets did not keep pace with interest charges on deposits at the bank, which have grown amid rapidly…

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Home Prices to Fall Another 14 Percent by Spring 2023, RBC Forecasts

September 20, 2022
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Home prices in Canada have yet to bottom out, with a decline of 14 percent expected in spring 2023, a Royal Bank of Canada economist says. Robert Hogue, RBC assistant chief economist, told the Toronto Star that the bank raised its previous prediction of 12 percent decline to 14 percent on Sept. 15, after the…

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Bank of Canada Interest Rate Hike Likely First of Many, Say Analysts

March 2, 2022
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The Bank of Canada’s modest rate increase on March 2 will do little to stem inflation, say analysts, who expect more rate hikes later this year. The BoC’s increase of 0.25 basis points to arrest increasing inflation brought the rate to 0.5 percent. The hike was widely expected by analysts, even though it’s earlier than…

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