Bank of Canada pushes up borrowing costs for the first time since 2018

Politics

Bank of Canada pushes up borrowing costs for the first time since 2018

Published

2 years ago

March 2, 2022

The Bank of Canada raised its policy interest rate Wednesday, pushing up borrowing costs for the first time since 2018 and kicking off a much-anticipated rate hike cycle despite heightened economic uncertainty caused by Russia’s invasion of Ukraine.

The central bank’s governing council voted to increase the key overnight interest rate to 0.5 per cent from 0.25 per cent – the first step in a push to bring runaway inflation back under control.

This puts the bank on the path to normalizing monetary policy after two years of record-low interest rates, held down by the bank to support the Canadian economy through the COVID-19 pandemic.

Bank of Canada Reporter Mark Rendell reports here.

Meanwhile, Real Estate Reporter Rachelle Younglai reports here that the rate-increase decision is not expected to cool the country’s frenzied real estate market, with homebuyers still able to get cheap mortgages to compete for properties.

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Politics

Viewer asks about Trump followers' assertion that trial is political. CNN anchor responds – CNN

Published

8 mins ago

April 18, 2024

Harry Miller

Viewer asks about Trump followers’ assertion that trial is political. CNN anchor responds

New York Times reporter and CNN senior political analyst Maggie Haberman joins CNN’s Laura Coates to answer questions from viewers about the hush money trial of former President Donald Trump.

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Politics

Trump faces political risks as trial begins – NBC News

Published

10 hours ago

April 17, 2024

Harry Miller

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Politics

Florida's Bob Graham dead at 87: A leader who looked beyond politics, served ordinary folks – Toronto Star

Published

12 hours ago

April 17, 2024

Harry Miller

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TALLAHASSEE, Fla. (AP) — A leader like Bob Graham would be a unicorn in the hyper-partisan politics of today.

The former Florida governor and U.S. senator wasn’t a slick, slogan-spouting politician. He didn’t have an us-against-them mentality. Sometimes, he even came across as more of a kind-hearted professor just trying to make the world a better place.

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