Consumer price index (CPI) at highest level since January 1983. CPI figures surpassed the average forecast of 7.4%. Bank of Canada will raise the benchmark interest rate by 0.75 percentage points Canadian inflation has reached its highest level in 39 years, with annual price increases of 7.7% in May. A variety of sectors contributed to … Read more
Another 75 basis point increase in interest rates at the next policy meeting in late July. Waller attributed the Fed’s sluggish response to inflation to its December 2020 directive to reduce asset purchases. This week, the yield on 10-year Treasury notes rose 8 basis points to 3.24 percent. Christopher Waller, governor of the Federal Reserve, … Read more
“We’re not trying to induce a recession,” the Fed chairman said while predicting more rate hikes and a slowing economy in the coming months. Unemployment is anticipated to rise to 3.7 percent by the end of 2022, eventually reaching 4.1 percent in 2024. Mr. Powell said he did not expect hikes of three-quarters of a … Read more
