#inflation

MalayalisNearMe Official

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๐Ÿ‘‰The Bank of Canada is expected to raise its benchmark interest rate by half a percent point on Wednesday, a move to control inflation, running at its highest level in decades. The current inflation rate for necessities is two to three times higher than what the bank likes to see. While low interest rates aren't the only factor driving up inflation, the central bank is feeling the pressure to move swiftly to cool things down.โœ… . . #bankofcanada #interestrate #interestrateofbankofcanada #inflation #inflationcontrol #dailynewscanada #candadianmallu #mnm #malayalisnearmeapp

Liked by Carolin Thomas and 7 others

2 Comments 2.18K Views

2 years ago

MalayalisNearMe Official

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๐Ÿ‘‰Gas prices have increased by several cents in most parts of the country as fuel supply remains tight. Canadians in most parts of the country are waking up to higher gas prices today, with prices either above $2 a litre or creeping close to that benchmark. โœ… . . #stockmarket #thursday #inflation #torontostockexchange #inflationrate #dailynewscanada #candadianmallu #mnm #malayalisnearmeapp

Liked by Sanjo Chacko and 1 others

270 Views

2 years ago

MalayalisNearMe Official

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๐Ÿ‘‰The Bank of Canada raised its benchmark interest rate to 0.5 per cent on Wednesday, a move that's expected to be the first of a series of small rate hikes this year in an attempt to tame inflation that has risen to its highest point in decades. It's the first time the bank has raised its rate since 2018. Before the pandemic, the bank's rate was 1.75 per cent, before it quickly slashed the rate down to 0.25 per cent to help the economy. The Bank of Canada's rate affects the rates that Canadian consumers get on things like mortgages, lines of credit and savings accounts at their own banks. While the bank has been telegraphing its plans to raise its rate to fight inflation for a while now, the bank acknowledged in its announcement Wednesday that inflation is heating up even faster than anticipated.โœ… . . #bankofcanada #interestrate #dailynews #malayalisnearme #inflation

Liked by Robin Cherian and 1 others

1 Comments 455 Views

2 years ago

MalayalisNearMe Official

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๐Ÿ‘‰After New Zealand's central bank aggressively increased interest rates to a 14-year high, the country's economy entered a recession. Official data indicate that during the first three months of the year, its GDP decreased by 0.1 percent. The economy is in a "technical recession" as a result of that, which came after a contraction of 0.7% in the preceding quarter. Since October 2021, the Reserve Bank of New Zealand (RBNZ) has significantly increased borrowing costs. One of the first nations to begin raising interest rates following the pandemic, New Zealand has moved ahead of the US Federal Reserve. The RBNZ raised its main interest rate to 5.5% last month. In New Zealand, where prices were already rising, higher interest rates are now having an effect on mortgage repayments and other loan costs. David Jordan, a web engineer with a home in Auckland, told the BBC that interest rates are "catastrophic." He continued, "I have seen many job losses in my industry as start-ups attempt to save money, but consultancies working with big global firms appear to be doing better." In an effort to contain price increases triggered by economies opening up following the Covid lockdowns, central banks around the world increased the cost of borrowing. The war in Ukraine also contributed to an increase in inflation because of the rising cost of everything from fuel to food.โœ… . . #NewZealandEconomy #InterestRateHike #Recession #GDPDecline #CentralBankPolicy #Inflation #MortgageRepayments #mnm #malayalisnearmeapp #canadaupdate #canadanews

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201 Views

1 year ago

MalayalisNearMe Official

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๐Ÿ‘‰Stock market around the world fell on Thursday as investors faced the results of high inflation, and much higher borrowing costs to fight it. The Toronto Stock Exchange main index closed around 20,700, down by almost 500 points or 2.3% with every sector on the benchmark Canadian stock market lower on the day. โœ… . . #stockmarket #thursday #inflation #torontostockexchange #inflationrate #dailynewscanada #candadianmallu #mnm #malayalisnearmeapp

Liked by Rohith Nair

297 Views

2 years ago

MalayalisNearMe Official

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๐Ÿ‘‰As of October 1, Ontario has increased its minimum wage from $16.55 to $17.20 per hour, following similar adjustments in Prince Edward Island, Manitoba, and Saskatchewan. This change reflects incremental increases linked to inflation. Full-time minimum wage workers in Ontario can expect to gross approximately $35,149.92 annually, but after taxes, this amount reduces to around $29,026. With the average monthly cost of living in Toronto estimated at $3,407.84 for a single person, minimum wage earners struggle to meet basic expenses. Many newcomers to Canada find themselves in minimum wage roles while awaiting recognition of their foreign credentials.โœ… . ๐„๐ฑ๐ฉ๐ž๐ซ๐ญ ๐Œ๐จ๐ซ๐ญ๐ ๐š๐ ๐ž ๐€๐๐ฏ๐ข๐ฌ๐ž- ๐€๐ญ ๐š ๐ญ๐ข๐ฆ๐ž ๐š๐ง๐ ๐ฉ๐ฅ๐š๐œ๐ž ๐œ๐จ๐ง๐ฏ๐ž๐ง๐ข๐ž๐ง๐ญ ๐Ÿ๐จ๐ซ ๐ฒ๐จ๐ฎ! ๐‰๐จ๐ฆ ๐Œ๐š๐ญ๐ญ๐š๐ฆ ๐Œ๐จ๐›๐ข๐ฅ๐ž ๐Œ๐จ๐ซ๐ญ๐ ๐š๐ ๐ž ๐€๐๐ฏ๐ข๐ฌ๐จ๐ซ +๐Ÿ ๐Ÿ”๐Ÿ’๐Ÿ• ๐Ÿ—๐Ÿ๐ŸŽ ๐Ÿ”๐Ÿ“๐Ÿ‘๐ŸŽ ๐ฃ๐จ๐ฆ.๐ฆ๐š๐ญ๐ญ๐š๐ฆ@๐œ๐ข๐›๐œ.๐œ๐จ๐ฆ @jom_mattam . . #OntarioMinimumWage #CostOfLiving #Newcomers #Inflation #Employment #WageIncrease #TorontoLiving #mnm #malayalisnearmeapp #canadaupdate #canadanews

227 Views

1 month ago

MalayalisNearMe Official

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๐Ÿ‘‰The Bank of Canada has implemented its third consecutive interest rate cut, reducing the key rate from 4.5% to 4.25%. This decision, anticipated by forecasters, comes as inflation continues to slow, prompting the central bank to ease its monetary policy. High interest rates earlier this year contributed to reducing inflation to 2.5% in July. Despite stronger-than-expected economic growth in the second quarter, with a 2.1% annualized increase, real GDP per capita shrank for the fifth consecutive quarter. Governor Tiff Macklem has indicated that further rate cuts are possible if inflation continues to decline.โœ… . ๐„๐ฑ๐ฉ๐ž๐ซ๐ญ ๐Œ๐จ๐ซ๐ญ๐ ๐š๐ ๐ž ๐€๐๐ฏ๐ข๐ฌ๐ž- ๐€๐ญ ๐š ๐ญ๐ข๐ฆ๐ž ๐š๐ง๐ ๐ฉ๐ฅ๐š๐œ๐ž ๐œ๐จ๐ง๐ฏ๐ž๐ง๐ข๐ž๐ง๐ญ ๐Ÿ๐จ๐ซ ๐ฒ๐จ๐ฎ! ๐‰๐จ๐ฆ ๐Œ๐š๐ญ๐ญ๐š๐ฆ ๐Œ๐จ๐›๐ข๐ฅ๐ž ๐Œ๐จ๐ซ๐ญ๐ ๐š๐ ๐ž ๐€๐๐ฏ๐ข๐ฌ๐จ๐ซ +๐Ÿ ๐Ÿ”๐Ÿ’๐Ÿ• ๐Ÿ—๐Ÿ๐ŸŽ ๐Ÿ”๐Ÿ“๐Ÿ‘๐ŸŽ ๐ฃ๐จ๐ฆ.๐ฆ๐š๐ญ๐ญ๐š๐ฆ@๐œ๐ข๐›๐œ.๐œ๐จ๐ฆ @jom_mattam . . #InterestRates #BankOfCanada #Inflation #EconomicUpdate #RateCut #CanadaEconomy #GDP #mnm #malayalisnearmeapp #canadaupdate #canadanews

129 Views

2 months ago

MalayalisNearMe Official

Immigration Post

Alberta Opens Work Permit Path for Wildfire Victims in Key Sectors

โœ…The Alberta Advantage Immigration Program (AAIP) is now accepting open work permits issued by Immigration, Refugees, and Citizenship Canada (IRCC) for those impacted by the province's wildfires. This measure, effective from July 19 to November 30, 2024, aids workers unable to stay with their current employers due to the wildfires. These permits are valid in the Alberta Opportunity and Tourism and Hospitality Streams, which usually require specific work permits. While other streams like Rural Renewal and Express Entry do not require work permits, all other criteria must still be met. Alberta continues to prioritize supporting wildfire victims through these temporary measures. . Source: www.immigration.ca . . ๐๐š๐ฏ๐ข๐ ๐š๐ญ๐ž ๐ฒ๐จ๐ฎ๐ซ ๐ก๐จ๐ฆ๐ž ๐ฃ๐จ๐ฎ๐ซ๐ง๐ž๐ฒ ๐ž๐Ÿ๐Ÿ๐จ๐ซ๐ญ๐ฅ๐ž๐ฌ๐ฌ๐ฅ๐ฒ ๐ฐ๐ข๐ญ๐ก ๐Š๐š๐ฆ๐š๐ฅ, ๐ฒ๐จ๐ฎ๐ซ ๐๐ž๐๐ข๐œ๐š๐ญ๐ž๐ ๐†๐“๐€ ๐‘๐ž๐š๐ฅ๐ญ๐จ๐ซ. ๐‚๐š๐ฅ๐ฅ: +๐Ÿ (๐Ÿ”๐Ÿ’๐Ÿ•) ๐Ÿ”๐Ÿ•๐Ÿ‘-๐Ÿ‘๐Ÿ“๐Ÿ๐Ÿ” ๐„๐ฆ๐š๐ข๐ฅ: ๐ค๐š๐ฆ๐š๐ฅ@๐ญ๐ก๐ž๐œ๐š๐ง๐š๐๐ข๐š๐ง๐ก๐จ๐ฆ๐ž.๐œ๐จ๐ฆ @kamalpillai_realtor . . #CanadaEconomy #Inflation #InterestRates #BankOfCanada #EconomicGrowth #FinanceNews #CanadianEconomy #mnm #malayalisnearmeapp #canadaupdate #canadanews

238 Views

2 months ago

MalayalisNearMe Official

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๐Ÿ‘‰Canada's inflation rate dropped to 2.5% in July, the lowest in 40 months, aligning with predictions and easing core inflation metrics. This decline strengthens expectations that the Bank of Canada will continue cutting interest rates, with another 25 basis point reduction anticipated on September 4. Analysts foresee up to three more cuts by year-end, potentially lowering the benchmark rate to 3.75%. The central bank has already reduced rates twice, shifting focus from solely curbing inflation to also stimulating economic growth. This marks the closest inflation has come to the Bank's 2% target since March 2021.โœ… . ๐๐š๐ฏ๐ข๐ ๐š๐ญ๐ž ๐ฒ๐จ๐ฎ๐ซ ๐ก๐จ๐ฆ๐ž ๐ฃ๐จ๐ฎ๐ซ๐ง๐ž๐ฒ ๐ž๐Ÿ๐Ÿ๐จ๐ซ๐ญ๐ฅ๐ž๐ฌ๐ฌ๐ฅ๐ฒ ๐ฐ๐ข๐ญ๐ก ๐Š๐š๐ฆ๐š๐ฅ, ๐ฒ๐จ๐ฎ๐ซ ๐๐ž๐๐ข๐œ๐š๐ญ๐ž๐ ๐†๐“๐€ ๐‘๐ž๐š๐ฅ๐ญ๐จ๐ซ. ๐‚๐š๐ฅ๐ฅ: +๐Ÿ (๐Ÿ”๐Ÿ’๐Ÿ•) ๐Ÿ”๐Ÿ•๐Ÿ‘-๐Ÿ‘๐Ÿ“๐Ÿ๐Ÿ” ๐„๐ฆ๐š๐ข๐ฅ: ๐ค๐š๐ฆ๐š๐ฅ@๐ญ๐ก๐ž๐œ๐š๐ง๐š๐๐ข๐š๐ง๐ก๐จ๐ฆ๐ž.๐œ๐จ๐ฆ @kamalpillai_realtor . . #CanadaEconomy #Inflation #InterestRates #BankOfCanada #EconomicGrowth #FinanceNews #CanadianEconomy #mnm #malayalisnearmeapp #canadaupdate #canadanews

193 Views

2 months ago

MalayalisNearMe Official

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๐Ÿ‘‰The Bank of Canada (BoC) cut its policy rate by 25 bps to 4.50% and downgraded its 2024 growth forecast to 1.2%, citing reduced consumption in motor vehicles and foreign travel. Governor Tiff Macklem highlighted the shift in household spending towards debt payments. The BoC expects overall inflation to dip below core inflation in H2 2024, with stabilization at 2% in H2 2025. Despite the rate cut, monetary policy remains restrictive. The economy grew by an annualized 1.7% in Q1 2024, falling short of the previous 2.8% projection.โœ… . ๐„๐ฑ๐ฉ๐ž๐ซ๐ญ ๐Œ๐จ๐ซ๐ญ๐ ๐š๐ ๐ž ๐€๐๐ฏ๐ข๐ฌ๐ž- ๐€๐ญ ๐š ๐ญ๐ข๐ฆ๐ž ๐š๐ง๐ ๐ฉ๐ฅ๐š๐œ๐ž ๐œ๐จ๐ง๐ฏ๐ž๐ง๐ข๐ž๐ง๐ญ ๐Ÿ๐จ๐ซ ๐ฒ๐จ๐ฎ! ๐‰๐จ๐ฆ ๐Œ๐š๐ญ๐ญ๐š๐ฆ ๐Œ๐จ๐›๐ข๐ฅ๐ž ๐Œ๐จ๐ซ๐ญ๐ ๐š๐ ๐ž ๐€๐๐ฏ๐ข๐ฌ๐จ๐ซ +๐Ÿ ๐Ÿ”๐Ÿ’๐Ÿ• ๐Ÿ—๐Ÿ๐ŸŽ ๐Ÿ”๐Ÿ“๐Ÿ‘๐ŸŽ ๐ฃ๐จ๐ฆ.๐ฆ๐š๐ญ๐ญ๐š๐ฆ@๐œ๐ข๐›๐œ.๐œ๐จ๐ฆ @jom_mattam . . #BoC #InterestRates #Economy #Inflation #MonetaryPolicy #CanadaEconomy #TiffMacklem #mnm #malayalisnearmeapp #canadaupdate #canadanews

125 Views

3 months ago

MalayalisNearMe Official

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๐Ÿ‘‰Inflation in Canada slowed to 2.7% in June, down from 2.9% in May, largely due to a 3.1% drop in gasoline prices, according to Statistics Canada. Despite this overall decline, grocery prices are rising again, signaling renewed pressure at the checkout. Travel tour prices fell by 11.1% monthly, and cellular service costs dropped by 12.8% annually. Durable goods, such as passenger vehicles and furniture, saw price decreases due to improved inventory and eased supply chains. Higher interest rates are also curbing consumer spending, contributing to the price drops.โœ… . ๐”๐ง๐ฅ๐จ๐œ๐ค ๐ฒ๐จ๐ฎ๐ซ ๐๐ซ๐ž๐š๐ฆ ๐ก๐จ๐ฆ๐ž ๐ฐ๐ข๐ญ๐ก ๐Œ๐š๐ง๐จ๐ฃ ๐Š๐š๐ซ๐š๐ญ๐ก๐š, ๐š๐ง ๐š๐ฐ๐š๐ซ๐-๐ฐ๐ข๐ง๐ง๐ข๐ง๐  ๐‘๐ž๐š๐ฅ๐ญ๐จ๐ซ ๐ข๐ง ๐Ž๐ง๐ญ๐š๐ซ๐ข๐จ. ๐‚๐š๐ฅ๐ฅ: +๐Ÿ (๐Ÿ”๐Ÿ’๐Ÿ•) ๐Ÿ๐Ÿ๐Ÿ”-๐Ÿ๐Ÿ”๐Ÿ”๐Ÿ“ ๐„๐ฆ๐š๐ข๐ฅ: ๐ฆ๐š๐ง๐จ๐ฃ@๐ญ๐ก๐ž๐œ๐š๐ง๐š๐๐ข๐š๐ง๐ก๐จ๐ฆ๐ž.๐œ๐จ๐ฆ @manojkaratha_realtor . . #Inflation #CanadaEconomy #GroceryPrices #GasPrices #ConsumerSpending #CPI #EconomyUpdate #mnm #malayalisnearmeapp #canadaupdate #canadanews

147 Views

3 months ago

MalayalisNearMe Official

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๐Ÿ‘‰On Wednesday, the Bank of Canada reduced its key interest rate by 0.25 percentage points to 4.75%, marking the first rate cut since the central bank's tightening cycle began in March 2022. This move aligns with most economists' expectations tracked by Bloomberg. April's core inflation rate fell to 2.7%, according to Statistics Canada. The overnight lending rate had been at five percent since July last year.โœ… . ๐”๐ง๐ฅ๐จ๐œ๐ค ๐ฒ๐จ๐ฎ๐ซ ๐๐ซ๐ž๐š๐ฆ ๐ก๐จ๐ฆ๐ž ๐ฐ๐ข๐ญ๐ก ๐Œ๐š๐ง๐จ๐ฃ ๐Š๐š๐ซ๐š๐ญ๐ก๐š, ๐š๐ง ๐š๐ฐ๐š๐ซ๐-๐ฐ๐ข๐ง๐ง๐ข๐ง๐  ๐‘๐ž๐š๐ฅ๐ญ๐จ๐ซ ๐ข๐ง ๐Ž๐ง๐ญ๐š๐ซ๐ข๐จ. ๐‚๐š๐ฅ๐ฅ: +๐Ÿ (๐Ÿ”๐Ÿ’๐Ÿ•) ๐Ÿ๐Ÿ๐Ÿ”-๐Ÿ๐Ÿ”๐Ÿ”๐Ÿ“ ๐„๐ฆ๐š๐ข๐ฅ: ๐ฆ๐š๐ง๐จ๐ฃ@๐ญ๐ก๐ž๐œ๐š๐ง๐š๐๐ข๐š๐ง๐ก๐จ๐ฆ๐ž.๐œ๐จ๐ฆ @manojkaratha_realtor . . #BankOfCanada #InterestRate #Economy #Inflation #FinanceNews #RateCut #CanadianEconomy #mnm #malayalisnearmeapp #canadaupdate #canadanews

156 Views

4 months ago

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