Rates round-up: Canada opts for 75bp raise
Chile surprises with larger hike, while Poland nears peak rates with 25bp increase
Canada: The Bank of Canada raised its main interest rate by 75 basis points today (September 7), opting for a smaller increase than the full percentage point hike at the previous meeting. The decision took the rate to 3.25%.
Canada benefitted from a decline in consumer price index inflation in July, which fell to 7.6% from 8.1% a month earlier. But the central bank said the drop had mainly been driven by falling gasoline prices; excluding gasoline, inflation has broadened and continued to climb
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More on Monetary policy decisions
Bank of Canada holds rates for sixth consecutive time
Central bank optimistic that rate cuts are ahead and inflation will gradually fall
RBNZ holds rates as economy enters recession
Policy-makers keep policy restrictive to tame inflation despite economic downturn
Philippine central bank holds rate
Central bank stays put after headline inflation rises for two consecutive months
Central Bank of Brazil cuts rate by 50bp
Copom says it expects to do the same at its next meeting in May
Bank of Korea holds rates amid property market concerns
Governor Rhee Chang-yong warns cutting rates too soon could reignite inflation
Caucasus central banks cut rates as inflation falls
Armenia, Azerbaijan and Georgia continue gradual easing, with Armenian inflation at -0.5%
Chile cuts rates for fourth consecutive meeting
Board forecasts inflation will return to 3% target in 2024
Colombian central bank begins cutting rates
Board splits over decision, as inflation remains above 10% while economy slows
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