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Canada’s deep yield curve inversion adds to central bank’s rate hike dilemma

As the Bank of Canada considers ditching oversized interest rate hikes, it is dealing with an economy likely more overheated than previously thought but also the bond market’s clearest signal yet that recession and lower inflation lie ahead. Canada’s central bank says that the economy needs to slow down from overheated levels in order to …

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Forecasters split on how high Bank of Canada will push next rate hike

The Bank of Canada is expected to increase interest rates once more this week, capping off a tumultuous year for the central bank.Justin Tang/The Canadian Press The Bank of Canada is expected to cap its tumultuous year with another interest-rate increase this week, although private-sector forecasters are split on how big the bank will go …

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Bank of Canada expected to end year with one more rate increase, likely to stop hikes soon

The Bank of Canada is expected to conclude a historic year marked by high inflation and aggressive monetary policy tightening with one more interest rate hike on Wednesday. Forecasters anticipate the central bank will raise its key interest rate, which is currently at 3.75 per cent, by either a quarter or half a percentage point …

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Pipeline company TC Energy prepares for $5-billion asset sales

As TC Energy Corp. TRP-T prepares to unload C$5-billion (US$3.7-billion) in assets next year, investors and analysts say the North American pipeline operator has plenty of options without touching its core gas business. Chief executive Francois Poirier cleared up any ambiguities this week when asked how much of TC’s portfolio is in the shop window. …

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Canada’s Big Six banks reported fourth-quarter earnings this week. Here’s what you need to know

Canada’s biggest banks reported their fourth-quarter earnings this week, covering the three months ending Oct. 31, as analysts gauge the strength of the banking sector before heading into an expected slowdown (and possible recession) next year. Bank of Nova Scotia, Royal Bank of Canada and Toronto-Dominion Bank topped analysts’ forecasts. Meanwhile, National Bank, Canadian Imperial …

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Banks report longer amortization periods on mortgages as borrowers struggle with higher rates

A home for sale in the Rosedale neighborhood in Toronto on June 21, 2012.Fred Lum/The Globe and Mail Major Canadian banks are increasingly the amortization periods for their variable-rate mortgage holders extend beyond 30 years, as soaring interest rates squeeze borrowers. The growing proportion of mortgages with long amortizations gives an indication of the number …

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TD Bank’s fourth-quarter profit exceeds expectations on higher rates boost

A man walks past the TD Bank in the Bay Street Financial District in Toronto on Aug. 5, 2022.Nathan Denette/The Canadian Press Toronto-Dominion Bank reported adjusted fourth-quarter profits that beat expectations and raised its dividend as higher margins earned on loans helped drive strong retail banking returns in Canada and the US TD is one …

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CIBC profit falls 18% on higher costs, loan-loss provisions; hikes profit

Canadian Imperial Bank of Commerce CM-T reported an 18-per-cent drop in fiscal fourth-quarter profit and raised its dividend as the bank was hit by higher expenses and loan loss provisions. The Toronto-based bank is the fourth major lender to report earnings for the quarter that ended Oct. 31, and the second to fall short of …

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Saputo stock tumbles after short-seller targets company

A prominent US short-seller targeted Canadian dairy giant Saputo Inc., SAP-T sending the company’s shares falling Tuesday. Spruce Point Capital Management LLC released a 147-page report attacking Saputo Tuesday morning. In it, Spruce Point questioned the success of Saputo’s acquisitions and said it thinks a tough global market for milk consumption means the company will …

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RBC dividend hikes as fourth-quarter profit holds steady on interest-rate boost

The RBC logo is seen on a branch in Halifax in this file photo.Andrew Vaughan/The Canadian Press Royal Bank of Canada RY-T reported fiscal fourth-quarter profit that was roughly unchanged from a year earlier and raised its dividend as a tailwind from rising interest rates helped offset a sluggish quarter for investment banking. Canada’s largest …

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