‎ - Bank of Canada announcements

Bank of Canada Keeps Interest Rates Steady

Posted by Maryann Jones on October 27th, 2023

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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