👉The Bank of Canada has opted to keep its benchmark interest rate steady at 5% for the fifth consecutive time, withholding indications of future rate adjustments. The decision follows an intense tightening campaign last July to curb soaring prices. Despite a notable decline in inflation and sluggish economic growth due to increased borrowing costs, the central bank refrains from contemplating rate cuts. Bank officials express a reluctance to extend restrictive monetary policies unnecessarily but remain cautious about jeopardizing progress in controlling inflation, as stated by Governor Macklem in his press conference opening statement.✅ . 𝐔𝐧𝐥𝐨𝐜𝐤 𝐲𝐨𝐮𝐫 𝐝𝐫𝐞𝐚𝐦 𝐡𝐨𝐦𝐞 𝐰𝐢𝐭𝐡 𝐌𝐚𝐧𝐨𝐣 𝐊𝐚𝐫𝐚𝐭𝐡𝐚, 𝐚𝐧 𝐚𝐰𝐚𝐫𝐝-𝐰𝐢𝐧𝐧𝐢𝐧𝐠 𝐑𝐞𝐚𝐥𝐭𝐨𝐫 𝐢𝐧 𝐎𝐧𝐭𝐚𝐫𝐢𝐨. 𝐂𝐚𝐥𝐥: +𝟏 (𝟔𝟒𝟕) 𝟐𝟐𝟔-𝟐𝟔𝟔𝟓 𝐄𝐦𝐚𝐢𝐥: 𝐦𝐚𝐧𝐨𝐣@𝐭𝐡𝐞𝐜𝐚𝐧𝐚𝐝𝐢𝐚𝐧𝐡𝐨𝐦𝐞.𝐜𝐨𝐦 @manojkaratha_realtor . . #BankofCanada #InterestRateDecision #MonetaryPolicy #EconomicOutlook #InflationControl #FinancialStability #RateHike #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉In a recent announcement following the October policy meeting, the Bank of Canada (BoC) has chosen to maintain the benchmark interest rate at 5%, consistent with market predictions. This decision, made for the second consecutive time, is closely watched in light of its potential impact on the Canadian Dollar's performance against the US Dollar. The CAD has been gradually depreciating against the USD since the BoC's last interest rate hike in July, with the USD/CAD pair seeing a nearly 4% increase since August. Stay updated as the story develops.✅ . . #BOC #InterestRateDecision #CanadianEconomy #Inflation #MonetaryPolicy #FinancialMarkets #BankofCanad #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉Canada's inflation rate in May dropped to 3.4%, reaching its lowest point since June 2021. The decrease is anticipated to be positive news for the Bank of Canada, as it prepares for the upcoming interest rate decision on July 12, following a recent quarter-percentage point increase to 4.75%. Statistics Canada's report attributed the slowdown primarily to reduced gasoline prices compared to the previous year. However, despite the overall decline, food inflation has yet to see a significant improvement, with grocery prices remaining high, increasing by nine per cent annually and showing minimal change from April. April had experienced a slight increase in inflation to 4.4%, slightly reversing the progress made since the previous summer.✅ . . #CanadaInflation #BankOfCanada #InterestRateDecision #GasolinePrices #FoodInflation #GroceryPrices #EconomicNews #mnm #malayalisnearmeapp #canadaupdate #canadanews