Bank of Canada watching economy closely after half-point rate cut [Video]
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Small Business Growth

Bank of Canada watching economy closely after half-point rate cut [Video]

Bank of Canada Governor Tiff Macklem waits for a news conference to begin, Wednesday, Dec. 11, 2024 in Ottawa. THE CANADIAN PRESS/Adrian Wyld

The Bank of Canada’s governing council expects its second straight outsized interest rate cut helped it turn a corner in its fight to tame inflation, but it is watching the economy closely amid weaker than expected growth.

The central bank’s summary of deliberations released Monday offers a glimpse into the council’s discussions in the lead up to the Dec. 11 rate cut, which lowered its key interest rate by half a percentage point.

Members considered only cutting by a quarter-point, but ultimately brought the rate down to 3.25 per cent in a bid to bring it closer to its so called neutral rate, where it is neither slowing nor speeding up economic growth.

They noted that lower immigration targets are likely to weigh on economic growth next …

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Paytm log 10% revenue jump at Rs 1,828 crore in Q3, PAT improved by Rs 208 crore [Video]
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Small Business Growth

Paytm log 10% revenue jump at Rs 1,828 crore in Q3, PAT improved by Rs 208 crore [Video]

Leading payments and financial services company, Paytm, on Monday reported impressive robust growth across key financial metrics. The company's operating revenue surged by 10 per cent quarter-on-quarter (QoQ) to Rs 1,828 crore in Q3 FY2025, driven by its payments business and expanding financial services distribution portfolio.

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