The Bank of Canada made headlines again. Find out why here.
At 10 am eastern, the Bank of Canada increased its policy interest rate for the sixth time this year to combat inflation. The latest increase was 50 basis points, roughly what the market anticipated, driving the Bank’s overnight rate up to 3.75%.
Bringing inflation back to the Bank’s 2% target may take time and result in more monetary tightening before the job is done.