Canada’s Carney explains rate hike
Mark Carney, the governor of the Bank of Canada, said at the Monetary Policy Report press conference on Thursday that greater momentum in demand led the central bank to raise its key policy rate.
On Tuesday, the central bank raised its target for the overnight rate by 25 basis points, to 0.75%. Carney explained that while the downside risk through reduced expenditures remained, strong confidence and easy credit conditions had led to "greater momentum than expected" in private demand.
Carney said
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