BoC Raises Rate to 2.50% as Inflation Outlook Worsens, Further Hikes Possible

The Bank of Canada raised its overnight policy rate by 25bps from 2.25% to 2.50%, broadly in line with market expectations, as stronger-than-anticipated economic growth and a more persistent inflation outlook warranted further monetary restraint. The BoC noted that growth has picked up since the July Monetary Policy Report, while elevated energy prices are increasingly […]

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