BREAKING: Bank of Canada hikes key interest rate by quarter of percentage point, bringing it to 4.5 per cent
The rate increase marks the eighth consecutive hike since March as the central bank fights off decades-high inflation.In a news release, the Bank of Canada said the Canadian economy is still overheated, prompting its governing council to raise interest rates once again.
The Bank of Canada also published its latest monetary policy report Wednesday, providing updated projections for the economy and inflation. At the same time, the labour market is still tight and inflation expectations among businesses and consumers are still elevated, the central bank said. As high interest rates continue to affect the economy more broadly, the central bank expects the labour market to soften in the coming months.
As this process unfolds, the Bank of Canada projects growth in the economy will stall through the first half of the year before picking back up toward the end of the year. Although the central bank is focused on excess demand in the domestic economy, it notes that global factors could continue to affect inflation.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
Bank of Canada raises key interest rate again, signals pause in rate hikesThe Bank of Canada has raised its overnight rate by 25 basis points, moving its policy rate to 4.5 per cent from 4.25 per cent. If projections hold steady, the central bank has signalled a pause at its current rate, while it assesses the full impact of its hikes on the economy.
اقرأ أكثر »
Bank of Canada to release policy meeting minutes for first time in its historyThe Bank of Canada will release meeting minutes of interest rate deliberations after its governor promised more transparency. Read on.
اقرأ أكثر »
Former Bank of Canada senior deputy governor to brief Trudeau cabinetJustin Trudeau and his ministers gathered in Hamilton, Ont. on Monday for a three-day cabinet retreat ahead of Parliament’s return next week
اقرأ أكثر »
Canadian dollar steadies as traders shirk risk ahead of Bank of Canada rate decisionCanadian dollar pulls back from 10-day high ahead of central bank’s rate decision
اقرأ أكثر »
Why the Bank of Canada should hike interest rates this weekJob and inflation numbers indicate a soft landing is within reach but policymakers should resist the temptation to relax restraint. Read on.
اقرأ أكثر »
Posthaste: What another Bank of Canada hike would mean to borrowers and the housing marketBank of Canada is expected to raise interest rates again. What does this mean to Canadian borrowers and the housing market. Find out
اقرأ أكثر »