Home Economics Bank of Canada face Losses but Raised 0.25% again

Bank of Canada face Losses but Raised 0.25% again

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First time in a century old history, Bank of Canada have faced losses of about half a billion Dollars. The institution used to give about a billion dollars per year to the government but 2022 had been the worst for them. However, government has signaled that they would do some amendments in the Act that would cover the losses the bank faced last year.

In the meantime the Bank of Canada raised interest rate by a quarter percent again. However, signaled that the bank might stop here. Economists are condemning the way the Bank did and asking the bank to reduce the interest rate which of course it’s not happening soon.

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