News 3 Bank of Canada

Bank of Canada raises policy interest rate by 25 basis points

eAwaz Local News

Ottawa – The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening. Global inflation remains high and broad-based. Inflation is coming down in many countries, largely reflecting lower energy prices as well as improvements …