14.23°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

AlbertaMay 15, 2026

Alberta legislature adjourns spring sitting amid separatism debate

Alberta MLAs wrapped up the spring sitting of the legislature this week following months of debate that frequently centred on separatist sentiment and political divisions at the legislature. The sitting included government legislation on issues ranging from public library materials to medical assistance in dying. However, exchanges in question period were often dominated by disagreements over separatism and the role of Premier Danielle Smith’s United Conservative government in responding to the movement. Government House Leader Joseph Schow said the United Conservative Party focused its legi
senior-critically-injured-two-vancouver-police-officers-hurt-after-west-end-vehicle-incident
BCMay 15, 2026

Senior critically injured, two Vancouver police officers hurt after West End vehicle incident

A senior citizen remains in critical condition and two Vancouver Police Department officers were hospitalized after a driver allegedly rammed multiple vehicles and drove through part of Nelson Park in Vancouver’s West End early Friday morning.According to Vancouver police, the incident began around 5:30 a.m. near Comox and Broughton streets when a vehicle was seen driving erratically and striking several objects, including an area near the Nelson Park dog park. Witnesses in the area reportedly moved out of the vehicle’s path to avoid being hit.Police said the injured senior was operating a
man-charged-after-surrey-shooting-that-injured-woman
BCMay 15, 2026

Man charged after Surrey shooting that injured woman

A 31-year-old man has been charged following a Surrey Police Service investigation into a November 2025 shooting that injured a woman inside a Surrey residence. Police said frontline officers responded to reports of shots fired at a home near 121 Street and 101B Avenue at about 9:10 p.m. on Nov. 23, 2025. According to Surrey Police Service, a female resident suffered a gunshot wound to the thigh and officers provided emergency medical aid until BC Emergency Health Services arrived. The SPS Major Crime Section led the investigation. Police said investigators identified a suspect and associated
death-toll-rises-to-24-after-russian-missile-strike-on-kyiv-apartment-building-zelenskyy-says
WorldMay 15, 2026

Death toll rises to 24 after Russian missile strike on Kyiv apartment building, Zelenskyy says

Ukrainian President Volodymyr Zelenskyy said Friday that the death toll from a Russian missile strike on a Kyiv apartment building has risen to 24, including three children, after emergency crews completed search operations at the site. In posts published on X, Zelenskyy said rescue workers spent more than a day clearing debris from the damaged nine-storey residential building following Thursday’s attack. Ukrainian officials also reported 48 people injured in the broader assault on the capital, including two children. According to the Ukrainian air force, the strike formed part of what offic
911-communications-workers-in-b-c-vote-95-in-favour-of-strike-action
BCMay 15, 2026

911 communications workers in B.C. vote 95% in favour of strike action

A union representing more than 700 emergency communications workers in British Columbia says members have voted 95 per cent in favour of strike action as contract negotiations continue with E-Comm, the organization that operates many of the province’s 911 call services. CUPE 8911 said Thursday the vote reflects concerns among front-line staff about staffing shortages, workload pressures and long-term sustainability within the emergency communications system. The union said workers would be in a legal strike position once an essential services order is finalized through the labour relations p

Related News