Bank of Canada Raises Rates for First Time in 7 Years
- Sluggish inflation mainly due to temporary factors, it says
- Poloz warns ‘monetary policy is not on a predetermined path’
Why the Bank of Canada May Be More Hawkish Than You Think
This article is for subscribers only.
Canada cautiously became the first Group of Seven country to join the U.S. in raising interest rates on Wednesday, feeding speculation the world’s central bankers are entering a tightening cycle.
The central bank raised its benchmark rate to 0.75 percent from 0.5 percent, while adding an element of prudence by warning future rate hikes will be “guided” by the data.