Bank of Canada raises its benchmark interest rate to 1.5%

Image of daily change for major currencies

But even with such unknowns, TD chief economist Beata Caranci said she expects Poloz to work with the positive data he has in front of him. "Temporary factors are causing volatility in quarterly growth rates: the bank projects a pick-up to 2.8% in the second quarter and a moderation to 1.5% in the third".

Business loans, student loans, lines of credit and home equity lines of credit will cost more to service.

As widely anticipated by economists, the Bank of Canada raised its trend-setting policy rate to 1.5 per cent, up from 1.25 per cent on Wednesday.

This is the first rate hike in six months and the fourth since last summer.

Governing Council expects that higher interest rates will be warranted to keep inflation near target and will continue to take a gradual approach, guided by incoming data.

"Canada's economy continues to operate close to its capacity and the composition of growth is shifting", said the BOC.

Archeologists Rethinking Triassic Period Because of Massive Dinosaur Bones
The last, iconic sauropods had the benefit of a long history of evolutionary innovation in this regard, said Dr Apaldetti. It was at least twice as large as the other plant-eaters that shared the warm, savannah environment it inhabited.

AT&T Gets Exclusive Deal to Sell Magic Leap's AR/VR Headset
The company has been showing off its "Creator Edition" product, a set of goggles and a portable, wearable computer to power them. And, the handheld controller will give users force control and haptic feedback, and allow for six degrees of freedom.

Thailand cave: Museum and movie in the works for Tham Luang
Although parents of the first eight boys rescued were able to see their sons, they had to stand six feet away from the children. Narongsak said about half of the 13 foreign divers on the crack team of 18 who rescued the boys were British.

The July projection also incorporates the estimated impact of tariffs on steel and aluminum recently imposed by the United States, as well as the countermeasures enacted by Canada.

Outside the country, the Bank of Canada has its eye on how widening global trade disputes, including an intensifying battle between the US and China, will affect the world's economy.

"My experience having come from Ireland five years ago is I've experienced recession and I've experienced interest hikes before so I'm cautious at this stage", said van Dijk.

It means consumers with variable rate mortgages or upcoming mortgage renewals will have to pay more. It also said underlying wage growth has been weaker than what would normally be expected in a tightened job market.

National Bank of Canada experts wrote in a note that Poloz may choose to err on the side of caution when it comes to future hikes because of threats of auto tariffs, which they warned, if applied, would have "unambiguously devastating economic impacts", particularly in Ontario.

Related:

  • Leaked promo material reveals new Galaxy Note 9 S Pen

    Leaked promo material reveals new Galaxy Note 9 S Pen

    As we get closer to Samsung's Unpacked press conference on August 9th, we're bound to see even more Note 9 leaks... like this one. A source with a respectable track record has leaked what appears to be promotional material for the Galaxy Note 9 .
    Chelsea winger Kenedy set to return on loan

    Chelsea winger Kenedy set to return on loan

    Kenedy joined Chelsea almost three years ago from Brazilian side Fluminense, but has played just 27 times for the club . If the move goes through, Kenedy will once again be looking to play on a regular basis under Benitez at Newcastle.
    The Peter Strzok fiasco wrecks the GOP’s bogus conspiracy theory

    The Peter Strzok fiasco wrecks the GOP’s bogus conspiracy theory

    Trump has consistently targeted Strzok in claiming that the Russian Federation investigation is a "witch hunt". Goodlatte eventually let the hearing proceed without calling the panel into recess.
  • Trump visit to United Kingdom begins on awkward note

    Asked about the President's view on US-UK relations, he said: "He has worked here for so many years, he knows so many people". Permission for the float was issued by London Mayor Sadiq Khan, who has exchanged back-and-forth criticism with Trump.
    Trump claims victory after forcing North Atlantic Treaty Organisation  crisis talks

    Trump claims victory after forcing North Atlantic Treaty Organisation crisis talks

    Officials had been awaiting the first meeting as an indicator of Mr Trump's mood and they soon had their answer. Trump's comments came in a wide-ranging news conference after attending a special meeting on defense spending.
    Meghan Markle's Sleek Suit Will Look Familiar To Royal Fans

    Meghan Markle's Sleek Suit Will Look Familiar To Royal Fans

    Prince George and Princess Charlotte holding onto their father Prince William \'s hands as they leave the chapel. According to the site, she also wore matching Manolo Blahnik suede pumps and a hat from Stephen Jones Millinery.
  • Apple launches faster processors on MacBook Pro

    Apple launches faster processors on MacBook Pro

    Apple offers the upgraded high-end 15-inch MacBook Pro with four different storage options, ranging from 512GB all the way to 4TB. Also, storage can reach up to 2TB of PCIe NVMe SSD, but RAM remains limited to 16GB of LPDDR3-2133.
    Fans thank England for 'making nation dream'

    Fans thank England for 'making nation dream'

    Eric Amsalem, a 48-year-old Croatian fan with his face painted in the colours of the national flag said: "It's a small country. In capital Zagreb, more than 10,000 people gathered in the central square to watch the match despite rain.
    Married woman, mechanic reportedly die from carbon monoxide poisoning during sex

    Married woman, mechanic reportedly die from carbon monoxide poisoning during sex

    However, NBC New York reported that the two were having sex in a vehicle in the garage when they were found dead. We don't know, ' she said. "I can't do that", daughter Khalisha Johnson told CBS . "She was everything to me".
  • How to update Sonos speakers for AirPlay 2 and HomeKit

    How to update Sonos speakers for AirPlay 2 and HomeKit

    Sonos' big-sound-in-small-speakers design has won praise , along with loyalty of some users who install them in multiple rooms. However, you can also manually check for the update if it's not showing up yet, by heading into the settings page in the app.
    All 11 rescued from crashed plane on Prince of Wales

    All 11 rescued from crashed plane on Prince of Wales

    A plane carrying 11 people crashed Tuesday on a mountainside in Alaska, officials and rescuers said, but there were no deaths. Initial reports are the plane went down about 2,000 feet up a mountain in rocky, tree-covered terrain.
    'Game of Thrones' leads Emmy nominations pack with 22 bids

    'Game of Thrones' leads Emmy nominations pack with 22 bids

    The 2018 Emmys will be hosted by Saturday Night Live stars Colin Jost and Michael Che . On the comedy side, it'll probably be a toss-up between Atlanta and The Marvelous Mrs.

Comments

Latest news

Epic Announces $8M Summer Skirmish Series - Fortnite
Epic Games has been teasing players over the last week, dropping hints online about what the new season will bring. Gamers prepare as Fortnite will be taken offline this morning in preparation for Epic Games' Season 5 update.

Sony's Xperia XA2 Plus will be available in Taiwan in August
On the connectivity front, it features 4G VoLTE, Wifi, Bluetooth 5.0, NFC, USB Type-C port and 3.5 mm headphone jack. Now, the Japanese smartphone maker is expanding its range of XA2 series, with the launch of the Xperia XA2 Plus .

Two USB adapters for Surface Go will launch August 2nd, too
Microsoft is claiming nine hours of battery life, which should be enough for all-day working if it turns out to be accurate. Don't forget that Microsoft launched a new Surface Mobile Mouse alongside the Surface Go, which is also up for pre-order.

Trump says committed to North Atlantic Treaty Organisation as allies agree to boost defense spending
Trump said there had been "tremendous progress" and that allies were "going to up it at levels they've never seen before". Asked about Mr Trump's suggestion, NATO Secretary-General Jens Stoltenberg said he would focus on what has been agreed to.

NYC mayor crossed border illegally, says Border Protection
But the group disregarded the order, walking back to their vehicles and driving back to Mexico, according to the letter. The New York Police Department runs de Blasio's security detail.

House GOP weighs contempt against key witness in Federal Bureau of Investigation probes
When he returns to Capitol Hill for Thursday's hearing he will be speaking publicly about the messages for the first time. If the full House does vote to hold someone in contempt, the matter then moves to the courts, where it has often stalled.

Riyad Mahrez unconcerned by Manchester City competition: 'I never thought about that'
I wanted to work under him and play for this club. "They were a little bit unlucky in the semi-final against Croatia". I made the decision to come here because I want to be part of that. "The prices have been big in every country".

Explosion rocks Wisconsin town in US, at least 3 hurt
Multiple videos from the area show that the explosion turned a section of Sun Prairie into a smoldering, burning hazard area. He said the building across from his shop "literally lifted up". "People were scrambling", Owen said, according to Fox 6 .

Cops Investigating XXXTentacion Murder Case Arrest Second Suspect
Detectives are calling Boatwright a gunman in XXX's murder and are still looking for an additional gunman. New reports claim a second suspect connected to the June slaying is now in police custody.

Fulham beats Premier League giants in the hunt for Seri
However, Nice Matin have also previously stated that the Arsenal and Chelsea-linked star is not interested in joining the Hammers .

Multivitamins, Mineral Supplements Do Not Reduce Heart Disease, Deaths
Perhaps instead, he said, their money is best spent on tried and true products: “Fruits and vegetables are good for our heart.”. Eduardo Sanchez, the American Heart Association's chief medical officer for prevention, told NBC News.

Green Day's 'American Idiot' climbs United Kingdom charts ahead of Trump visit
The song, which debuted in 2004, came out during a different Republican administration, that of former President George W. In related news, fans were able to bring back Green Day's " American Idiot " back in charts.

Return of war dead from North Korea could take years of digging
President Donald Trump shake hands at the conclusion of their meetings at the Capella resort on Sentosa Island in Singapore. Pompeo and his delegation had just traveled to North Korea to meet with senior North Korean official Kim Yong Chol.

Man with no arms stabs South Beach tourist with scissors, police say
It's like, how the hell did I get stabbed? Because I can't believe with his legs someone could do that, " he told WTVJ. He and a female friend who was present said Mr Coronado asked Mr Crenshaw for directions and was attacked, police said.

Did England attempt to score while Croatia celebrated second goal?
It went into extra-time and Gareth Southgate replaced Ashley Young with Danny Rose on the flank. As a result, Croatia are through to their first ever World Cup final.

Other news