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Bank of Canada maintains policy rate, continues quantitative tightening
The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening. Global economic developments have evolved broadly in line with the outlook in the January Monetary Policy Report (MPR). Global growth continues to slow, and inflation, while still too high, is coming down due primarily to lower energy prices. In the United States and Europe, near-term outlooks for growth and inflation are both somewhat higher than expected in January. In particular, labour markets remain tight, and elevated ... (full story)
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BOC REITERATES ITS WILLINGNESS TO RAISE POLICY RATES FURTHER IF NECESSARY TO RETURN INFLATION TO THE 2% TARGET.
— Breaking Market News (@financialjuice) March 8, 2023
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BOC: PRICE INCREASES FOR FOOD AND SHELTER REMAIN HIGH, CAUSING CONTINUED HARDSHIP FOR CANADIANS.
— Breaking Market News (@financialjuice) March 8, 2023
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Boc: the most recent economic data are consistent with banks' expectations that overall inflation will fall to around 3% by the middle of this year.
— BTBMarkets (@BTBMarkets) March 8, 2023