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Bank of Canada Increases Interest Rate

Bank of Canada Increases Interest Rate
The Bank of Canada has raised its trendsetting interest rate one quarter of a point from 0.50% to 0.75%. This is the second time in as many months that the central bank has raised rates in response to the economy’s recovery from last year’s recession. This move from the Bank of Canada will ... Full story
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Bank of Canada Increases Key Interest Rate

Bank of Canada Increases Key Interest Rate
Today marked the end of rock bottom borrowing costs, as we have the Bank of Canada raise its trend setting overnight interest rate to 0.50% from the historically low 0.25%. In a brief announcement from bank governor Mark Carney, it was noted that economic activity in Canada has been unfolding much better than ... Full story
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Canadian Economy Growing Faster than Anticipated

Canadian Economy Growing Faster than Anticipated
Statistics Canada has released data that shows Canada’s economy has grown at an annualized rate of 6.1% in the first quarter of 2010. National Gross Domestic Product (GDP) has increased by 1.5% in the first quarter of 2010, when it is compared to the last quarter of 2009. Real GDP has increased 0.6% in March from ... Full story
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Loonie Rises from EU’s Aid Package

Loonie Rises from EU's Aid Package
The Canadian dollar was up more than 1.8 cents at today’s open as financial markets reacted positively to news of a massive package to protect the embattled euro and contain the European debt crisis. The dollar opened trading Monday at 97.62 cents U.S., up 1.82 cents from Friday’s close. The loonie was among a number of currencies that ... Full story
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Canada’s Business Confidence Decreases

Canada's Business Confidence Decreases
Business confidence in Canada dropped slightly in the second quarter as company’s willingness to invest was hindered due to the persisting slack in the economy and strong Canadian dollar noted the Conference Board of Canada. The board’s index of business confidence went down to 95.6 points from 96 points in the first quarter. In a ... Full story
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CIBC World Markets: Corporate Canada’s Debt Levels will Lessen effect of Rate Hikes

CIBC World Markets: Corporate Canada's Debt Levels will Lessen effect of Rate Hikes
CA new report from CIBC World Markets Inc. notes that while Canadian consumers are sitting on record levels of debt, Canada’s corporate sector finds itself facing the opposite situation with its debt levels at record levels. The report notes that corporate debt service payments are equal to about 30% of total operate earnings today against 100% ... Full story
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Loonie Posts Largest Gain After Central Bank’s Economic Forecast

Loonie Posts Largest Gain After Central Bank’s Economic Forecast
The loonie posted its largest single day gain in 9 months on Tuesday following an economic forecast from Canada’s central bank. The Canadian dollar was up 1.58 cents at 100.12 cents (U.S.) after the Bank of Canada signaled that rates are bound to rise soon, a move which would likely increase international demand for Canadian bonds ... Full story
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Canadian Dollar Passes Parity

Canadian Dollar Passes Parity
For the first time close to two years, the Canadian dollar passed parity on Wednesday, after trading close to par for most of the day. The dollar closed at 100.08 cents US, up 0.27 of a cent on Wednesday, the first time since July 2008. Don Drummond, chief economist, TD Bank Financial Group noted that adapting to ... Full story
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Canada’s Growth Surpasses G7

Canada’s Growth Surpasses G7
The Canadian dollar has stayed just below parity despite having a good report on the nation’s economy from an international group and signs that the Unites States is unlikely to raise interest rates. The Organization for Economic Development and Co-operation (OECD) noted that Canada’s economy is likely ... Full story
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Loonie Opens At Parity

Loonie Opens At Parity
Today the Canadian dollar opened in Canada at 100 cents US, exact parity, and up about one tenth of a cent from Tuesday’s close. At one point today, the loonie was worth more than one U.S. dollar early Wednesday, reaching as high as 100.03 cents US overnight, before North American Trading began. The loonie did slip below ... Full story
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