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Bank of Canada Holds Rates at 4.5% Even as Fed Pushes Higher
The Bank of Canada kept interest rates unchanged for the first time in nine meetings and said it’s still weighing whether additional hikes will be needed to rein in inflation. Policymakers led by Governor Tiff Macklem made good on a January pledge to hold the benchmark overnight rate at 4.5%, the first pause among major central banks that was expected by both markets and economists. Officials kept the door open to more hikes, however, reiterating that they’re willing to raise borrowing costs again if necessary. “Governing Council will continue to assess economic developments and the impact of past interest rate ... (full story)