Bank of Canada Hikes Key Interest Rate by Another Half Percentage Point to 4.25 Percent

Started by Epoch-Times-Bot, Dec 07, 2022, 09:30 AM

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Epoch-Times-Bot

Dec 07, 2022, 09:30 AM
Bank of Canada Hikes Key Interest Rate by Another Half Percentage Point to 4.25 Percent

OTTAWA—The Bank of Canada raised interest rates by another 50 basis points (half a percentage point) on Dec. 7, citing an economy that is still overheating with unemployment near historic lows amid ongoing high inflation.
The central bank's policy interest rate is now 4.25 percent, but language about future interest rate increases was tweaked from October's statement to suggest less certainty about the need for more rate hikes.
The BoC said, "Governing Council will be considering whether the policy interest rate needs to rise further." In its Oct. 26 statement, it said "Governing Council expects that the  policy interest rate will need to rise further."...

Source: Bank of Canada Hikes Key Interest Rate by Another Half Percentage Point to 4.25 Percent

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