Bank of Canada to publish summary of interest-rate deliberations for the first time
The Bank of Canada will release a summary of its deliberations on the latest interest rate hike later today, the first time the central bank is giving Canadians a peek behind the curtain into its decision-making process.
The bank last year announced it would start publishing these summaries about two weeks after its interest rate decisions in an effort to improve transparency around how its decisions are made.
This comes after the central bank hiked interest rates aggressively over a period of less than a year, bringing its key rate from 0.25 per cent in March to 4.5 per cent on Jan. 25 in a bid to combat skyrocketing inflation.
After its latest hike, the bank signalled it's taking a pause to let the effects of higher rates sink in.
The Federal Reserve, which is the Bank of Canada's U.S. counterpart, publishes minutes of its meetings three weeks after policy decisions.
The Bank of Canada hasn't said what format the deliberation summaries will take or how much detail it will provide.
This report by The Canadian Press was first published Feb. 8, 2023.
MORE Business News
opinion | What happens if you mistakenly get a larger tax refund?
Was your 2022 tax refund larger than you expected it to be?
How to claim Ontario's staycation tax credit on your tax return
People in Ontario who vacationed in the province last year can claim the trip on their upcoming tax returns, and here’s how to do it.
Thinking of an alternative lender? What it could mean for your mortgage
As economic conditions make it harder to qualify for a mortgage, Canadians are increasingly looking to alternative lenders, particularly amid interest rates. CTVNews.ca looks at why Canadians are seeking private lenders and the potential benefits and risks attached to them.
opinion | Tips on how to get the most out of your TFSA
The federal government's latest TFSA contribution limit increase took effect this year. On CTVNews.ca, personal finance contributor Christopher Liew outlines eight tips on how Canadians can get the most out of this popular savings account.
opinion | These are the new tax brackets for 2023
There are going to be some changes to Canada's tax brackets as we move into 2023. These changes could impact how you’re taxed when you file your 2023 income tax returns next year.
Canadian food bloggers share tips, tricks to make filling budget-friendly meals
Food bloggers and cookbook authors say meal-planning and simple recipes can help home cooks put together filling and tasty dishes on a budget -- an increasingly stressful challenge amid rising food prices.
Canadians fell for more home improvement scams in 2022, new report finds
The Better Business Bureau says Canadians fell for home improvement scams the most in 2022, in a report highlighting the riskiest scams and how much money they cost Canadians.
'Not every sale is a bargain': How to avoid common money mistakes
In light of new poll results that found Canadians are spending a lot of time worrying about money, one personal finance expert shares some simple tips to help Canadians avoid making some common, costly mistakes with their cash.