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Bank of Canada increases policy interest rate
The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %. The Bank is continuing its reinvestment phase, keeping its overall holdings of Government of Canada bonds on its balance sheet roughly constant until such time as it becomes appropriate to allow the size of its balance sheet to decline. The unprovoked invasion of Ukraine by Russia is a major new source of uncertainty. Prices for oil and other commodities have risen sharply. This will add to inflation around the world, and negative impacts on confidence and new supply disruptions could ... (full story)
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BOC: THE RUSSIAN INVASION OF UKRAINE IS A BIG NEW SOURCE OF UNCERTAINTY.
— Breaking Market News (@financialjuice) March 2, 2022
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*BOC: Expects Interest Rates Will Need to Rise Further
— *Walter Bloomberg (@DeItaone) March 2, 2022
*BOC: Price Increases Have Become More Pervasive
*BOC: Inflation Will Be Higher Than Previously Anticipated https://t.co/AJaEHK373o