Russia's invasion of Ukraine cited as key factor in global economic slump
Bank hikes Fed forecast 75 bps, adds 25 bps to BoC call
New 3% to 3.25% range is highest since 2008
List prices respond to rate hikes within weeks, not years, research finds
Fed should be able to stick with 75 bps hike next week, BMO says
Recession now expected for Europe this year, U.S. in 2023
Record gap between pay and price increases has opened this year
China and Europe are leading the downturn, while Canada and the U.S. may still skirt the worst
Stock prices tumbled and bond yields rose as many investors feared a more aggressive Federal Reserve
The Bank of Canada's senior deputy governor spoke in Calgary one day after the latest interest rate hike