Cities

OTTAWA – Bank of Canada senior deputy governor Carolyn Rogers says the journey back to two per cent inflation will take time and that a period of lower economic growth is necessary to bring inflation down.The Thursday speech to Calgary…

Canadians are increasingly vulnerable to ``payment shock'' as higher household debt levels collide with oversized interest rate hikes.The Bank of Canada raised its key lending rate by three-quarters of a percentage point Wednesday,…

TORONTO – The heads of Canada's biggest banks say rising interest rates are starting to have their intended effect of slowing demand but that for now they continue to notch growth.Speaking at an investment conference in Toronto on…

TORONTO – Equifax Canada says total consumer debt rose to $2.32 trillion in the second quarter, up 8.2 per cent compared with the same quarter last year.The report by the credit rating agency says increases in new lending and higher…

OTTAWA – Canadians should expect interest rates will climb even higher, the Bank of Canada said Wednesday after announcing another supersized interest rate hike.The central bank raised its key interest rate by three-quarters of a…

TORONTO — A new TD Bank report suggests the average price of a home in Canada could fall between 20 and 25 per cent from its peak seen earlier this year to the first quarter of 2023.The report released Monday comes as a decrease in…

OTTAWA – Inflation in Canada finally appears to have peaked, but it nonetheless remains too high to dissuade the Bank of Canada from raising interest rates significantly in September, economists say.The year-over-year inflation rate…