Bank of Canada raises rates despite falling inflation

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

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account