7
Jun
Economic growth leads the Bank of Canada to increase its benchmark interest rate
Posted by: Nitin Kumar
Today, the Bank of Canada increased its overnight interest rate to 4.75% (+0.25% from April) because of higher-than-expected growth in Canada’s economy in the first quarter and the view that monetary policy was not yet restrictive enough to bring inflation down to target. Leading up to today’s announcement, many economists feared that the BoC would […]
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