The Bank of Canada\u0027s 50\u002Dbasis\u002Dpoint hike brings the key interest rate to 4.25 per cent, the highest it\u0027s been since 2008. Read more.
That language is a marked departure from previous announcements where the bank said more rate hikes should be expected.
In its news release, the Bank of Canada said there’s “growing evidence” that higher interest rates are restraining demand in the economy. The Bank of Canada said economic data released since its October interest rate decision supports its forecast that growth will stall through the end of the year and into the first half of 2023.
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Bank of Canada hikes key interest rate half a percentage point to 4.25% - BNN BloombergBREAKING: The Bank of Canada raised its key policy rate half a point to 4.25 per cent on Wednesday, in line with most economist estimates.
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Bank of Canada hikes key overnight interest rate by 50 basis points to 4.25%It’s the seventh consecutive increase since the Bank began hiking rates in March in a bid to curb runaway inflation.
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