Bank of Canada lost $522 million in third quarter, marking first loss in its history

By News on the Net —— Bio and Archives November 30, 2022

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OTTAWA (CTV)- The Bank of Canada lost $522 million in the third quarter of this year, marking the first loss in its 87-year history. In the central bank's latest quarterly financial report, it says revenue from interest on its assets did not keep pace with interest charges on deposits at the bank, which have grown amid rapidly rising interest rates.-- More...