Volatility here to stay as rate hike path still uncertain. While the Bank of Canada and the U.S. Federal Reserve didn’t hike interest rates in the latest meetings, both central banks signaled that higher rates are coming. Priya Misra, Head of Global Rates Strategy at TD Securities explains why that may mean more market volatility ahead.
OTTAWA, Jan 27 (Reuters) - The Bank of Canada's decision to delay a rate hike for five more weeks will add fuel to Canada's scorching housing market as buyers scramble to clinch deals before borrowing costs rise, realtors said. The Bank of Canada held its overnight rate at a record...
The Bank of Canada is keeping its key interest rate target on hold at 0.25 per cent, but warning it won’t stay there for much longer. The trendsetting rate has been at its rock−bottom level since March 2020 during the first wave of the COVID−19 pandemic as the economy went into a downturn and three million jobs were lost.
Equity markets in Canada opened lower on Friday as the prospect of faster rate hikes by the Bank of Canada and the U.S. Federal Reserve weighed on metal prices, pulling down major mining stocks. The S&P/TSX Composite descended 58.01 points to begin Friday at 20,486.10. The Canadian dollar shed 0.14...
Both the Bank of Canada and the U.S. Federal Reserve held their policy meetings this week, leaving rates unchanged but sounding increasingly hawkish. The Bank of Canada held its target for the overnight rate at the effective lower bound of 0.25%. In its Monetary Policy Report, Canada’s central bank announced...
- Oil price surge ignored by Canadian dollar traders. USDCAD Snapshot: Open 1.26702-06, Overnight Range-1.2659-1.2725, previous close 1.2668, WTI open $87.31, Gold open $1811.33. The Canadian dollar took it on the chin yesterday after the Bank of Canada left interest rates unchanged. USDCAD soared to 1.2645 from 1.2560 on the...
The wait-and-see attitude of the Bank of Canada, which on Wednesday preferred to delay until March before announcing a first interest rate hike, surprised many. However, this decision will make it possible to align the refocusing of Canadian monetary policy with that of the United States, where the Federal Reserve also announced that the first interest rate hike in two years would be decreed next March.
Thursday proved another day of wild swings on stock markets throughout North America, with the “ride” ending in negative positions on major markets. The S&P/TSX Composite ended Thursday down 51.78 points, to 20,544.11. The Canadian dollar shed 0.55 cents at 78.46 cents U.S. Gold stocks took a hit,...
Futures for Canada's main stock index sank on Friday as the prospect of faster rate hikes by the Bank of Canada and the U.S. Federal Reserve weighed on gold and technology stocks. The S&P/TSX Composite ended Thursday down 51.78 points to 20,544.11. The Canadian dollar dipped 0.27 cents to 78.18...
Stocks continue to sell off lead by the more-expensive tech stocks. And leading the tech rout are the tech stocks with no earnings or those that are “earnings challenged.” You find many of those companies in the once high-flying ARKK Innovation ETF. “ARKK has sunk,” goes the recent narrative.
USD/CAD trades to a fresh weekly high (1.2743) as the Bank of Canada (BoC) sticks to the sidelines at its first meeting for 2022, and fresh data prints coming out of the US economy may push the exchange rate towards the monthly high (1.2814) as inflation is expected to increase for the fourth consecutive month.
Canadian defined benefit plans posted positive returns in the fourth quarter, thanks to a rebound in global equity markets, following a sluggish third quarter, data from Northern Trust show. The median Canadian DB plan returned 3.8% for the quarter ended Dec. 31, according to the Northern Trust Canada Universe, well...
Just as central banks stood pat on Wednesday by not raising their policy rates, so too should advisors when it comes to their strategies for clients, market experts suggest. To many people’s surprise, both the Bank of Canada and the Federal Reserve chose not to raise rates this week despite inflation levels not seen in more than three decades. The Bank of Canada decided to leave the target for its overnight rate at 0.25%, while the Federal Reserve held its target at 0% to 0.25%.
‘Moving without moving’: Don't expect rush into housing market after Bank of Canada's rate hike reprieve
The Bank of Canada is waiting to raise interest rates, but don’t expect the reprieve to spark a last-minute surge in homebuying. This advertisement has not loaded yet, but your article continues below. Article content. That’s the message a handful of market watchers gave the Financial Post, noting that...
Steve Ambler and Jeremy Kronick, Special to Financial Post. In a surprise move, the Bank of Canada kept its overnight rate target steady at 25 basis points Wednesday. Markets had already priced in a rate increase by the time the announcement was made, so there was ample cover to make this the first post-pandemic increase. That didn’t happen. With inflation rising at home and abroad, we believe this was a missed opportunity.