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Below are some key quotes from a news conference by Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers on Wednesday after the central bank surprised by raising key interest rate by 100 basis points to 2.5%. Read more
The U.S. Transportation Department (USDOT) on Wednesday approved American Airlines’ (AAL.O) request to resume service to some smaller Cuban airports after President Joe Biden reversed his predecessor’s policy. American sought approval for flights from Miami to Santa Clara, Holguin, Matanzas/Varadero Read more
The Bank of Canada surprised on Wednesday with a full-percentage-point increase to its policy rate, a super-sized hike last seen in 1998, citing “higher and more persistent” inflation and the increased risk of those price gains becoming entrenched. The central Read more
The Bank of Canada surprised on Wednesday with a full-percentage-point increase to its policy rate, a super-sized hike last seen in 1998, citing “higher and more persistent” inflation and the increased risk of those price gains becoming entrenched. The central Read more
The Bank of Canada on Wednesday said its consistent underestimation of inflation since the spring of last year has been mostly due to global shocks that drove up commodity and energy prices faster than expected. The central bank again significantly Read more
The Bank of Canada on Wednesday dramatically upped its near-term inflation forecasts and said there was an increased risk of higher price gains becoming entrenched, as it slashed its growth forecasts for 2022 and 2023. The central bank now expects Read more
Futures on the federal funds rate have increased the chances of a full percentage-point hike at the Federal Reserve meeting later this month after a hotter-than-expected U.S. annual inflation print. The Labor Department’s report showed the Consumer Price Index (CPI) Read more