borrowing

OTTAWA – The Bank of Canada says the national economy will go in reverse for the first quarter of 2021, hammering the hardest-hit workers again on the path to a recovery that rests on the rollout of vaccines. Workers in high-contact…

OTTAWA – Statistics Canada says Canadian households owed an average of $1.71 for every dollar of disposable income in the third quarter. The agency says that household debt as a percentage of disposable income rose to 170.7 per cent in…

OTTAWA – The Bank of Canada sought Wednesday to temper economic excitement about a sharper-than-expected rebound from the depths of the COVID-19 crisis, pointing to worrying trends that signal all is still not well. In a statement, the…

OTTAWA – The economy appears to have avoided a worst-case scenario due to the COVID-19 pandemic, the Bank of Canada said Wednesday as it kept its key interest rate steady at its lower bound. The bank left its target for the overnight…

TORONTO – Canada's housing market could see a significant pullback this year because of the COVID-19 pandemic, but could rebound next year, a report by RBC says. This year's home resales could dive by 30 per cent to a 20-year low as…

The Bank of Canada (BoC) today lowered its target for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. In a statement from the central bank, this unscheduled…

OTTAWA – The Bank of Canada is cutting its overnight rate target by half a percentage point to 0.75 per cent in response to COVID-19. The central bank said Friday the unscheduled rate decision was due to the pandemic and its impact on…

OTTAWA – The Bank of Canada is cutting its key interest rate target by half a percentage point, dropping it to 1.25 per cent in response to the economic shock from the novel coronavirus outbreak. The central bank said Wednesday that it…