9.34°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

canadas-trade-diversification-agenda-unchanged-despite-u-s-election-results
CanadaNov 04, 2026

Canada’s Trade Diversification Agenda Unchanged Despite U.S. Election Results

Canada’s Trade Minister Dominic LeBlanc has reaffirmed that Ottawa’s trade diversification agenda will not be derailed by the results of the U.S. midterm elections. He said only Americans have the right to explain what issues influenced voters’ decisions, adding that Canada has no say in the matter. Meanwhile, Ontario Premier Doug Ford warned against assuming that the Democratic Party’s clean sweep means the trade war is over. He stressed that U.S. President Donald Trump still has full powers to impose tariffs and make trade-related decisions. However, Ford described the Democratic vic
carney-confirms-trade-talks-with-u-s-underway-since-weekend
CanadaNov 04, 2026

Carney Confirms Trade Talks With U.S. Underway Since Weekend

Prime Minister Mark Carney has confirmed that trade talks with the United States have been underway since the weekend, following a phone conversation with U.S. President Donald Trump last week. Speaking to reporters during his visit to Antigua and Barbuda, Carney said negotiations on a potential trade deal began after the call. He added that Washington had scaled back some of its demands, removing several key Canadian red lines from the discussions. These include Canada's laws protecting the French language and its right to independently negotiate free trade agreements with other countries. Me
IndiaNov 04, 2026

Punjab Government Accepts Major Demands in Jhotta Murder Case

An agreement has been reached between the Punjab government and the Justice Action Committee following a lengthy meeting over the killing of anti-drug activist Parvinder Singh Jhotta in Mansa. Under the agreement, the government has accepted all major demands except the call for the resignations of Chief Minister Bhagwant Mann and DGP. Following the agreement, Jhotta’s family has agreed to perform his last rites. It was also decided that his post-mortem examination will be conducted at PGI Chandigarh on November 6. The agreement was reached during a meeting with Punjab Assembly Speaker Kulta
fire-near-burnabys-gilmore-skytrain-station-disrupts-millennium-line-service
BCNov 04, 2026

Fire Near Burnaby’s Gilmore SkyTrain Station Disrupts Millennium Line Service

A fire near Gilmore SkyTrain Station in Burnaby caused heavy smoke early Wednesday morning, forcing TransLink to suspend Millennium Line services and disrupting travel between Vancouver and Burnaby. According to TransLink, service was suspended at around 5:50 a.m. due to heavy smoke at Gilmore Station. Additional shuttle buses were arranged between Holdom, Brentwood, Gilmore, Rupert and Renfrew stations to assist affected passengers. Meanwhile, Expo Line and Canada Line services continued operating normally. The fire department received a report of a fire inside the station building at around
ed-raids-aap-mla-dr-amandeep-kaur-aroras-residences-in-punjab
IndiaNov 04, 2026

ED Raids AAP MLA Dr. Amandeep Kaur Arora’s Residences in Punjab

The Enforcement Directorate (ED) on Wednesday conducted raids at two residences linked to Aam Aadmi Party (AAP) Moga MLA and Punjab women’s wing president Dr. Amandeep Kaur Arora. The searches also extended to Ashirwad Mental Health and Drug De-addiction Private Hospital in Bagha Purana, in which she is a partner, and her parental village of Chandumajra near Patiala. Dr. Arora was present at her residence during the raids, where ED officials questioned her. The action comes months ahead of the 2027 Punjab Assembly elections, with AAP having already announced her candidature from the Moga con

Related News