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Bank of Canada increases policy interest rate by 75 basis points, continues quantitative tightening
The Bank of Canada today increased its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%. The Bank is also continuing its policy of quantitative tightening. The global and Canadian economies are evolving broadly in line with the Bank’s July projection. The effects of COVID-19 outbreaks, ongoing supply disruptions, and the war in Ukraine continue to dampen growth and boost prices. Global inflation remains high and measures of core inflation are moving up in most countries. In response, central banks around the world continue to tighten monetary policy. Economic activity ... (full story)
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️*CANADA RATES 'WILL NEED TO RISE FURTHER' GIVEN INFLATION: BOC
— Cable FX Macro (@cablefxmacro) September 7, 2022
*CANADA ECONOMY STILL IN EXCESS DEMAND, LABOR MARKET TIGHT: BOC
*BOC: SHORT-TERM INFLATION EXPECTATIONS RISK BECOMING ENTRENCHED
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BOC SAYS IT WILL BE ASSESSING HOW MUCH HIGHER RATES NEED TO GO AS EFFECTS OF TIGHTER MONETARY POLICY WORK THROUGH THE ECONOMY #News #Forex #BOC
— Capital Hungry (@Capital_Hungry) September 7, 2022