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The Bank of Canada held interest rates steady as expected, facing a policy dilemma between economic weakness and surging oil prices.
① The Bank of Canada held its benchmark interest rate steady at 2.25% for the fifth consecutive time, as weak economic growth coexists with rising energy prices; ② Bank of Canada Governor Tiff Macklem stated that the central bank would not hesitate to raise rates if necessary to ensure inflation remains under control, and he expects the economy to resume growth in the second quarter.
Shares of Energy Companies Are Trading Lower Amid a Drop in Oil Prices After U.S. Energy Secretary Wright Said That Ship Traffic Through the Strait of Hormuz Is "Rising Very Meaningfully". Reports Indicate That Kuwait Is Offering to Sell Crude to...
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Shares of Oil and Gas-related Companies Are Trading Higher After Iran Halted Negotiations With the U.S., With Iranian Forces Threatening to Fully Close the Strait of Hormuz and the Bab El-Mandeb Strait to the Red Sea.
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