Lagging effects of higher rates to impact banks' bottom lines this year
Japan had been a holdout among major industrialized nations in allowing yields to rise
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Key rate range could top 5% in 2023
Wall Street welcomed the better-than-expected data as support for the Fed to slow rate hikes
Russia's invasion of Ukraine was one of three main surprises this year, Macklem says in year-end speech
The Fed is expected Wednesday to raise its benchmark short-term rate for a seventh time this year
Interest rate decisions will be data-dependent, deputy governor said
SIFMA survey finds gloomy expectations for U.S. economy in 2023
Rate tightening “likely has reached its zenith,” CIBC economist predicts