Bank of Canada

Bank of Canada increases policy interest rate by 50 basis points

eAwaz Local News

Ottawa – The Bank of Canada today increased its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. The Bank is also continuing its policy of quantitative tightening. Inflation around the world remains high and broadly based. This reflects the strength of the global recovery from the pandemic, a series …