National

BoC expected to lower interest rates again, with odds leaning toward larger cut

Darpan News Desk The Canadian Press, 09 Dec, 2024 11:40 AM

Financial markets and forecasters are betting on another jumbo interest rate cut from the Bank of Canada this week.

Statistics Canada's latest job report tilted expectations in favour of a larger cut.

The Friday report revealed the unemployment rate jumped to 6.8 per cent in November, up from 6.5 per cent a month earlier, as more people looked for work.

A half-percentage point interest rate reduction would bring the central bank's key interest rate to 3.25 per cent.

The Bank of Canada reduced its key interest rate by half a percentage point in October in response to inflation returning to target, but signalled the size of the next rate decision would be data-dependent.

Canada's inflation rate was two per cent in October.

Prev Next

MORE National ARTICLES

Anti-Israel war protesters arrested following sit-in at parliamentary building

Fourteen people were arrested on Parliament Hill this morning after staging a sit-in demanding Canada immediately stop sending any weapons to Israel. The protesters from Jews Say No to Genocide Coalition sat shoulder-to-shoulder in the entrance to the Confederation Building, which contains dozens of offices for members of Parliament.

Anti-Israel war protesters arrested following sit-in at parliamentary building

Health-care costs will rise significantly as population ages, says new report

A new report says Canada needs to rethink its approach to health care to help manage rising costs as people age. CSA Group, an organization that helps policymakers develop standards around health and safety, says health care currentlycosts about $12,000 per year for each person 65 years and older, compared to $2,700 for each person younger than 65.

Health-care costs will rise significantly as population ages, says new report

Defence argues evidence too thin in Ottawa neo-Nazi terrorism trial

Defence lawyers for an Ottawa graphic designer facing terror charges over his alleged involvement with the neo-Nazi group Atomwaffen Division say the evidence against their client is flimsy. Closing arguments are wrapping up in the trial of Patrick Macdonald, who pleaded not guilty to three charges of terrorism and hate speech.

Defence argues evidence too thin in Ottawa neo-Nazi terrorism trial

Cucumbers recalled due to salmonella

The Canadian Food Inspection Agency is recalling field cucumbers – some of which were distributed in B-C – for possible salmonella contamination. The affected products from Mexico may have been labelled “SunFed” or sold loose without a brand name.

Cucumbers recalled due to salmonella

Erratic driver crashes into Nanaimo home

Police in Nanaimo say a driver doing donuts lost control of their vehicle and crashed into a home on Saturday. The R-C-M-P says it's fortunate no one in the home was injured when the vehicle drove over the lawn and was lodged into the foundation, destroyed some brick work and a basement window.

Erratic driver crashes into Nanaimo home

B.C. police discipline ruling voided because officer overseeing investigation retired

The disciplinary decision must now be reissued, dragging out the victim's pursuit of justice over how she was treated by colleagues in the wake of the 2019 attack. She called the situation a "screw-up" by the Office of the Police Complaint Commissioner, which she said had failed its oversight mission.