BoC hikes 50bps, will consider whether further increase needed

BoC raises overnight rate by 50bps to 4.25%. The Bank Rate and deposit rate are increased to 4.50% and 4.25% respectively. Quantitative tightening will also continue. Most importantly BoC said it will now be “considering whether the policy interest rate needs to rise further to bring supply and demand back into balance and return inflation […]

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