18.32°C Vancouver

Dec 6, 2023 4:44 PM - The Canadian Press

Bank of Canada keeps interest rate at 5%

Share On
bank-of-canada-keeps-interest-rate-at-5
The Bank of Canada is keeping its key interest rate at five per cent because higher interest rates are clearly restraining spending. (Photo: The Canadian Press)

The Bank of Canada is keeping its key interest rate at five per cent because higher interest rates are clearly restraining spending.

The central bank says the combination of weaker growth and a cooling job market suggests demand is no longer outpacing supply in the economy and that this slowdown is necessary to restore price stability.

However, the Bank of Canada isn't ruling out future rate hikes just yet, saying it is still concerned about risks to the outlook for inflation and remains prepared to raise rates further if needed

Latest news

b-c-man-charged-after-police-find-more-than-14-000-child-exploitation-images-and-videos
BCAug 11, 2026

B.C. Man Charged After Police Find More Than 14,000 Child Exploitation Images and Videos

A 37-year-old man has been charged following a police investigation in Surrey, B.C., that uncovered more than 14,000 images and videos related to child sexual exploitation. According to police, the investigation began in May 2025 after they received reports that a suspect was possessing and accessing child sexual abuse and exploitation material online. A search warrant was executed at a Surrey residence in August 2025, where investigators discovered thousands of images and videos. Police say the evidence led to charges against Wade Bruce Craig for processing and accessing child sexual exploita
canada-u-s-trade-talks-enter-final-stage-as-possible-deal-takes-shape
CanadaAug 11, 2026

Canada-U.S. Trade Talks Enter Final Stage as Possible Deal Takes Shape

Canada-U.S. trade talks appear to be entering a critical final stage, with Trade Minister Dominic LeBlanc and U.S. Trade Representative Jamieson Greer potentially presenting the outline of a possible deal to President Donald Trump by Monday. The discussions are part of efforts to avoid new 50 per cent tariffs on Canadian exports that are set to take effect on August 19. LeBlanc met with Greer in Washington on Tuesday, marking their third meeting in three weeks. According to reports, the two countries are discussing a potential agreement under which Canada could agree to some U.S. demands in ex
68-year-old-woman-dies-after-being-struck-by-vehicle-in-north-burnaby
BCAug 11, 2026

68-Year-Old Woman Dies After Being Struck by Vehicle in North Burnaby

A 68-year-old woman has died after being struck by a vehicle in North Burnaby. According to Burnaby RCMP, the incident happened at around 6:30 p.m. Monday in the area of Pender Street and McDonald Avenue. Police said the Burnaby woman suffered serious injuries in the collision. She received medical attention at the scene and was rushed to hospital, where she later died due to the severity of her injuries. The driver of the vehicle involved remained at the scene and is cooperating with investigators. Burnaby RCMP is continuing to investigate the circumstances surrounding the collision. Investig
BCAug 11, 2026

Punjabi Truck Driver Allegedly Targeted in Racist Attack at Edmonton Walmart

A Punjabi truck driver from B.C. was allegedly assaulted in what is being described as a racially motivated attack at a Walmart store in Edmonton. The Edmonton Police Service’s Hate Crimes Unit is investigating the incident. The incident took place on August 6 at the Walmart on Tamarack Way in southeast Edmonton. Talwinder Singh Atwal says he had stopped at the store while working when a young man and a woman allegedly began making racist remarks toward him. Atwal says he initially ignored the comments, but after being repeatedly harassed, he asked them why they were behaving that way. He al
BCAug 11, 2026

Surrey Municipal Election 2026: Candidate Nominations Open September 1

The official nomination period for candidates running in Surrey’s 2026 municipal election has been set for September 1 to 11, with prospective candidates beginning preparations for their campaigns. Voting will take place on October 17, while advance voting will be available from October 7 to 15. Surrey voters will elect a total of 15 representatives, including one mayor, eight city councillors and six school trustees. According to city staff estimates, the election is expected to cost taxpayers approximately $3.448 million. The city has also introduced strict rules governing campaign signs.

Related News