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Macklem not ruling out future BoC rate hike to get to 2% inflation target

By Jordan Gowling, CTV National News Producer

Published: April 12, 2023 at 5:30AM EDT

BoC can't cut rates, cannot keep rising either amid 'huge' economic downside risk: Strategist Karl Schamotta, chief market strategist at Corpay, joins BNN Bloomberg for his view on the markets ahead of a busy week. With the BoC set to hold rates this week, Schamotta assesses how it could after the loonie. He expects the Fed to remain hawkish, which will contribute to USD strength, leading other currencies into bearish territory, however, he does not expect the loonie to be deeply affected by it. Furthermore, he does not see rate cuts for developed nations in 2023.

Man charged in Scarborough house fire that left 8-month-old dead

Man charged in Scarborough house fire that left 8-month-old dead

Chrystia Freeland will scrap capital gains tax hike if elected Liberal leader: source

Chrystia Freeland will scrap capital gains tax hike if elected Liberal leader: source

Romantic partner of CLBC VP runs society receiving $500K annual funding from Crown corp.

Romantic partner of CLBC VP runs society receiving $500K annual funding from Crown corp.

Crown asks man accused of Tatlow Park murder about his mental health during cross-examination

Crown asks man accused of Tatlow Park murder about his mental health during cross-examination

Teacher at Springbank, Alta., high school charged with child luring, sexual exploitation

Teacher at Springbank, Alta., high school charged with child luring, sexual exploitation

Alberta NDP Leader Naheed Nenshi acclaimed as party's candidate for Edmonton seat

Alberta NDP Leader Naheed Nenshi acclaimed as party's candidate for Edmonton seat

Arnprior, Ont., man forced to pay thousands after notice of recovered truck caught up in Canada Post strike

Arnprior, Ont., man forced to pay thousands after notice of recovered truck caught up in Canada Post strike

Poilievre says he wants to cut the federal public service, doesn't mind remote work

Poilievre says he wants to cut the federal public service, doesn't mind remote work

Man who struck and killed Montreal pedestrian pleads guilty to impaired driving

Man who struck and killed Montreal pedestrian pleads guilty to impaired driving

Will Quebec Inc. turn its back on the environment and diversity?

Will Quebec Inc. turn its back on the environment and diversity?

Alberta NDP Leader Naheed Nenshi acclaimed as party's candidate for Edmonton seat

Alberta NDP Leader Naheed Nenshi acclaimed as party's candidate for Edmonton seat

‘It’s a social issue’: Jasper residents in housing limbo amid provincial impasse

‘It’s a social issue’: Jasper residents in housing limbo amid provincial impasse

Cape Breton family that started children’s charity suffers second tragic death

Cape Breton family that started children’s charity suffers second tragic death

People in tents struggle to stay warm amid cold temperatures in Nova Scotia

People in tents struggle to stay warm amid cold temperatures in Nova Scotia

‘Traffic is very, very aggressive’: Plans to add passing lanes to Highway 8 in the works

‘Traffic is very, very aggressive’: Plans to add passing lanes to Highway 8 in the works

Man assaulted with machete over rent payments: Winnipeg police

Man assaulted with machete over rent payments: Winnipeg police

‘There is help, you’re loved’: Ty Hunter shares his mental health journey

‘There is help, you’re loved’: Ty Hunter shares his mental health journey

‘No market for 2,000 sq. foot homes’: Regina’s daunting housing needs presented to new councillors

‘No market for 2,000 sq. foot homes’: Regina’s daunting housing needs presented to new councillors

What happened to Derek Ritz? Family, friends still looking for answers eight years after he disappeared

What happened to Derek Ritz? Family, friends still looking for answers eight years after he disappeared

Nine confirmed measles cases in Brantford, Brant, Haldimand and Norfolk, possible exposure in Ingersoll and Woodstock

Nine confirmed measles cases in Brantford, Brant, Haldimand and Norfolk, possible exposure in Ingersoll and Woodstock

Sask. NDP calls for healthcare overhaul

Sask. NDP calls for healthcare overhaul

Sask. inmate who escaped federal prison in Prince Albert arrested

Sask. inmate who escaped federal prison in Prince Albert arrested

Sudbury police investigating shooting in Notre Dame Ave. area

Sudbury police investigating shooting in Notre Dame Ave. area

North Bay police say wanted man removed ankle monitor

North Bay police say wanted man removed ankle monitor

Emergency medical service from an SUV: Why officials say new Rapid Response Unit is saving lives

Emergency medical service from an SUV: Why officials say new Rapid Response Unit is saving lives

Richmond reopens following fatal collision

Richmond reopens following fatal collision

Suspect sought after arson suspected in historic Orillia fire

Suspect sought after arson suspected in historic Orillia fire

Bell Let’s Talk Day: Raising the flag for mental health in Barrie

Bell Let’s Talk Day: Raising the flag for mental health in Barrie

‘We can’t fund this’: City responds to funding changes for asylum claimants

‘We can’t fund this’: City responds to funding changes for asylum claimants

Windsor police officer on trial in Ottawa for 2023 assault

Windsor police officer on trial in Ottawa for 2023 assault

B.C. Realtor facing wildfire interference charge says he made mistake by flying drone

B.C. Realtor facing wildfire interference charge says he made mistake by flying drone

Supreme Court certifies B.C.‘s class-action opioid lawsuit against opioid providers

Supreme Court certifies B.C.‘s class-action opioid lawsuit against opioid providers

Kitchener, Ont. mother may face 10-year wait for barrier-free housing for son with rare disorder

Kitchener, Ont. mother may face 10-year wait for barrier-free housing for son with rare disorder

College course cuts ‘breaks all hope’ for international students

College course cuts ‘breaks all hope’ for international students

RFK Jr. says he's resigned from anti-vaccine nonprofit as he seeks nation's top health official job

RFK Jr. says he's resigned from anti-vaccine nonprofit as he seeks nation's top health official job

Trump’s 3-day immigration blitz severely tightens border, sets stage for rapid deportations

Trump’s 3-day immigration blitz severely tightens border, sets stage for rapid deportations

Chrystia Freeland will scrap capital gains tax hike if elected Liberal leader: source

Trudeau’s environment minister says he’s ‘forced to recognize’ carbon tax ‘very unpopular’

PM, premiers talk interprovincial trade to shore up Canadian economy: PMO

Davos 2025: Trade, tariffs, AI and UN chief Guterres dominate World Economic Forum agenda

Restaurant company MTY Food Group raising quarterly dividend by 18 per cent

Canadian farmers fear Trump’s beef with dairy

‘The kids are not all right’: Young Canadians describe mental health struggles

Canada’s shell egg recall: Here’s a quick guide to spot potential salmonella contamination

Canadian doc says WHO headquarters 'stressed, devastated' as Trump orders U.S. exit

Sean 'Diddy' Combs sues man who claimed to have incriminating sex tapes, says they didn't exist

Lynn Ban, ‘Bling Empire’ cast member, dies weeks after skiing accident

Judi Dench says her vision loss is so bad she can no longer go out alone

Canadian women's hockey team roster named to close out Rivalry Series with U.S.

Novak Djokovic beats Carlos Alcaraz in ‘epic’ Australian Open quarterfinal

Spurs, Pacers make their way to Paris, for a week where all eyes will be on Victor Wembanyama

Oreo is releasing this flavor for the first time ever

More than 1.4 billion people travelled internationally in 2024 as tourism returns to pre-pandemic highs

Children are sexually abused online regularly, and the problem is only growing. Here’s what experts suggest

Climate & Environment

Here’s where severe weather alerts are active in Canada Wednesday

Firefighters help rescue 10-foot alligator from Florida storm drain

Trump says he’s withdrawing the U.S. from the Paris climate agreement again

Elon Musk bashes the US$500 billion AI project Trump announced, claiming its backers don’t ‘have the money’

TikTok’s parent company is in active discussions about a deal, board member says

Earth’s magnetic north pole is on the move, and scientists just updated its position

U.S. upgrades probe into 129,000 Ford vehicles over hands-free tech

From AI assistants to holographic displays, automakers showcase in-cabin experiences at CES

U.S. probing about 2.6 million Tesla vehicles over 'Actually Smart Summon' feature

Rare winter storm dumps snow on U.S. Gulf States

F1 champion Lewis Hamilton makes iconic first appearance in Ferrari red

U.S. first lady fashion throughout the decades

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