Bank of Canada hikes key rate by half percentage point, signals possible pause
The Bank of Canada building is pictured in Ottawa on Tuesday, Dec. 6, 2022.
“Looking ahead, [the] governing council will be considering whether the policy interest rate needs to rise further to bring supply and demand into balance and return inflation to target,” the Bank of Canada said in a news release. In its news release, the Bank of Canada said there’s “growing evidence” that higher interest rates are restraining demand in the economy.
At the same time, it said inflation is still too high and short-term inflation expectations remain elevated.
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