Hawkish Bank of Canada announcement fuels rate hike expectations - Mortgage Rates & Mortgage Broker News in Canada
Hawkish Bank of Canada announcement fuels rate hike expectations - Mortgage Rates & Mortgage Broker News in Canada
Abstract
Todayβs rate hike was the second half-point hike in as many months, and the third of the year. It brings the Bank of Canada's key lending rate to 1.50%, 125 basis points above its record-low levels. Markets were instead focused on the accompanying statement, where the Bank reaffirmed its commitment to essentially do what it takes to bring inflation back under control. βThe risk of elevated inflation becoming entrenched has risen,β the BoC said.
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