For the second consecutive month, the Bank of Canada is keeping the overnight interest rate at 2.75%, with Governor Tiff Macklem citing significant uncertainty surrounding the outcomes of trade negotiations. For the second consecutive month, the Bank of Canada has opted to hold its overnight interest rate at 2.75 per cent. The decision comes at
The Canadian dollar climbed to its highest level in nearly two weeks against the U.S. dollar on Wednesday, buoyed by broad weakness in the greenback and a reduced likelihood that the Bank of Canada will resume interest rate cuts next month. The loonie appreciated by 0.6%, trading at 1.3832 per U.S. dollar, or 72.30 U.S.
April 25 (Reuters) — Gold prices dropped 2% on Friday and were set for a weekly loss, pressured by a stronger dollar and signs of easing U.S.-China trade tensions. A report that Beijing had exempted certain U.S. goods from tariffs weighed on bullion.Spot gold slid 1.7% to $3,292.99 an ounce by 1:39 a.m. EDT (1739
The Bank of Canada implemented a widely expected 25-bps rate cut, lowering its benchmark rate to 2.75%. The cautious messaging that accompanied the decision was unsurprising, as markets remain focused on Trump and the escalating trade war. Ontario Premier Doug Ford is in Washington today at the invitation of Howard Lutnik, following his decision to
The Bank of Canada has lowered its policy rate by 25 basis points to 2.75% as trade tensions between Canada and the U.S. intensify. Overnight, the U.S. imposed a 25% tariff on all Canadian steel and aluminum imports—industries that generated nearly $40 billion in exports last year. Further trade restrictions are anticipated on April 2,
A declining Canadian dollar is driving more consumers to support locally made products as they look for ways to make their weakening currency go further, according to a new survey. A Bank survey released Thursday revealed that 68% of Canadians see the weaker dollar as a threat to their personal finances in 2025. In response,
Analysts say tariffs are coming, but the details will hold crucial clues for investors. There is a growing likelihood that U.S. President Donald Trump will introduce a 25% tariff on Canadian goods, set to take effect on Feb. 1. Experts caution that this could have a significant impact on trade-sensitive industries, though the auto and
As 2025 begins, many Canadians are wondering whether interest rates will continue to fall. The Bank of Canada (BoC) has already reduced its benchmark interest rate several times in recent months, bringing it to 4.25% as of late 2024. These decisions were made to stimulate the economy amid signs of slowing growth. But will the
The Canadian dollar (CAD) has started 2025 on a challenging note, continuing a downward trend that began in late 2024. As of January 3, the CAD is at its lowest point against the U.S. dollar (USD) in nearly five years. Several economic and geopolitical factors that unfolded in 2024 and persist into the new year