U.S. Federal Reserve officials left interest rates unchanged on Wednesday, but signalled support for one more rate increase this year and fewer rate cuts next year as the American economy proves more resilient than expected. Federal Open Market Committee members voted unanimously to hold the benchmark Federal Funds rate between 5.25-5.5 per cent, the highest level since 2001. This is the second time the Fed has held off raising interest rates this year, as it inches toward the end of its...

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Bank of Canada Governor Tiff Macklem said the central bank’s 2-per-cent inflation target “is now in sight” and that interest rates “may be sufficiently restrictive,” but warned that his team could raise rates again if consumer price growth remains stubborn. Mr. Macklem was speaking the day after the central bank held its key interest rate steady at 5 per cent, hitting pause on monetary policy tightening after two rate hikes over the summer. “With past interest rate increases still working...

The Bank of Canada has hit pause on its campaign of interest-rate increases, holding its policy rate steady at 5 per cent in response to growing signs the Canadian economy has begun to stall. At the same time, the central bank said it remains concerned about stubborn inflation and warned of future rate increases if consumer prices begin to accelerate again. Wednesday’s widely anticipated decision offers some respite to homeowners and other borrowers who have been hammered by rising interest...

The Bank of Canada is expected to pause its monetary policy tightening campaign this week, weighing stubborn inflation data against growing evidence that the Canadian economy has begun to stall. Analysts expect the central bank will keep its benchmark interest rate at 5 per cent Wednesday, after hikes in June and July. There’s a widespread belief on Bay Street that Canadian interest rates have peaked, according to polls and swap market data, with no more hikes needed to wrestle inflation back...