Bank of Canada raises rates despite falling inflation

Bank-of-Canada-HQ
The Bank of Canada
Bank of Canada/Flickr

The Bank of Canada raised its policy rates 25 basis points on July 12, taking the deposit rate to 5%.

“We’re taking it one decision at a time,” said BoC Governor Tiff Macklem. “We’re doing our best to balance the risks of over and under tightening.” The seven-member governing council’s decision leaves the overnight rate at 5%, and the bank rate at 5.25%.

“If we’re not careful the progress to price stability could stall,” warned Macklem. “It’s clearly too early to be talking about interest rate

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