Here's what experts are saying about the Bank of Canada hiking its key policy rate by half a point to 4.25 per cent.
The Bank of Canada hiked its key policy rate by half a point to 4.25 per cent on Wednesday, marking a seventh consecutive increase.
Stephen Brown, senior Canada economist at Capital Economics, said the most important change out of this announcement was the central bank’s language about future rate hikes. “The bank has been telling us for several meetings now that they expect the policy rate will need to rise further, whereas today they’ve changed that language to ‘considering.’”, it said the central bank would be considering whether the policy interest rate needs to be raised again.
“Governing Council continues to assess how tighter monetary policy is working to slow demand, how supply challenges are resolving, and how inflation and inflation expectations are responding.”
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