Canadian households were adding debt at the fastest pace since October 2011 in July, pushing total household debt to almost $2.1 trillion
Minutes showed that some officials expressed concern about the recent decline in U.S. inflation, even though unemployment has also continued to decline
Q2 results for the big U.S. banks revealed positive trends in both earnings and loan growth
Canada’s Big Five banks all announced they were increasing their prime lending rates by 25 basis points effective on Thursday
This is the central bank’s first interest rate increase since 2010
Speculation about an interest rate hike comes amid a flurry of strong economic news this year
Unemployment rate edges down to 6.5%
The Bank of Canada’s next interest rate announcement is set for July 12
The U.S. central bank has also unveiled plan to reduce bond holdings later this year
Stephen Poloz also pointed to several lingering uncertainties that could mean the central bank may not be ready to increase rates just yet