But Bank of Canada signals it may pause aggressive rate hike cycle
OTTAWA — The Bank of Canada hiked its key interest rate by half a percentage point Wednesday to 4.25 per cent – the highest it's been since January 2008 – while signalling it may pause its aggressive rate hike cycle.
That language is a marked departure from previous announcements where the bank said more rate hikes should be expected. “Consumption moderated in the third quarter, and housing market activity continues to decline,” the central bank said. In October, the annual inflation rate was 6.9 per cent, well above the Bank of Canada’s two per cent target. However, economists have noted the three-month annualized inflation rate has dropped to below four per cent, suggesting inflation is headed in the right direction.
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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 raises key rate by half percentage pointThe Bank of Canada is raising its key interest rate by half a percentage point, bringing it to 4.25 per cent and the highest it’s been since 2008.
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Bank of Canada raises key interest rate by half percentage pointThe 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.
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Bank of Canada raises key interest rate to 4.25 per cent, its highest since 2008The Bank of Canada has raised its overnight rate by 50 basis points to 4.25 per cent, marking its seventh rate hike in nine months. The last time the bank’s policy rate was this high was in January 2008.
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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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Bea Bruske: Bank of Canada should pause rate hikes now to avert a manufactured recessionMore Bank of Canada interest rate hikes risk weakening our economy and potentially inducing massive job losses, says Bea Bruske. Read on.
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