Bank of Canada Keeps Interest Rates Steady
Posted by Maryann Jones on
Bank of Canada Keeps Interest Rates Steady
The Bank of Canada decided not to change its interest rates, currently at 5%. They're also continuing their plan to reduce the amount of money in circulation.
World Economy: Slower Growth
Around the world, economies are slowing down. This is because interest rates have increased, and global bond yields have increased, making people and businesses spend less. The Bank predicts the world's economy will grow by 2.9% this year, 2.3% in 2024, and 2.6% in 2025. The U.S. is doing well, but China is struggling, and Europe is slowing down, too. Prices for things we buy are not going up as fast as before because supply problems are getting solved, and people are buying less. However, central banks are still…
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