Canada central bank continued its campaign to wrestle high inflation
Into submission on Wednesday, raising its benchmark interest rate by a quarter of a percentage point for the second time in three months.
Canada’s central bank continued its campaign to wrest high inflation into submission on Wednesday, raising its benchmark interest rate for the third time in nine months to 3.75 percent.
The move was widely expected and does little to change the course of the economy, which is on track for slow growth without inflationary pressures central bank on Wednesday paved the way for an interest rate increase by raising its benchmark rate to 3 percent.
Canada’s central bank raised its key interest rate by 25 basis points to 3.75 percent, seeking to keep inflation in check and keep the economy from overheating.
Canada’s central bank hiked the benchmark interest rate by a quarter point on Wednesday and said it would continue its campaign to tackle high inflation by raising the rate further next year.
Canada’s central bank pushed up the benchmark interest rate by a quarter of a point on Wednesday, marking it at its highest level since mid-2009.
The Bank of Canada raised its benchmark interest rate by 25 basis points to 3.75 percent on Wednesday, with another 25-basis point hike in October seen as likely. The decision came at a time of rising U.S. inflation as higher oil prices squeezed the loonie and pushed up consumer spending.
The Bank of Canada has announced it will raise its target for short-term interest rates from 0.75% to 3.00%. This represents the third increase in three months, with the previous two taking place on August 14th and September 12th.
Canada’s central bank increased its benchmark interest rate by 25 basis points, to 3.75 percent, on Wednesday to combat stubbornly high inflation.
Canada’s central bank has hiked its benchmark interest rate for a second time in two weeks, this time by two-tenths of a percentage point to 3.75%.
The Bank of Canada raised its key rate Wednesday, saying it’s back in the business of strengthening consumer financial security and containing inflation. The bank’s current bank rate stood at 1.5 percent at Canadian Central Bank
The bank raised its key rate to 3.75% from 3.5%, continuing a slow course of rate hikes that it began in January and one that is expected to continue until 2020. Inflation has been above target for years.