Bank of Canada resumes rate hiking
New trade deal, business confidence and household credit moderating gives green light to rate rise
The Bank of Canada resumed its process of raising interest rates today (October 24), as the country’s new trade deal with the US and Mexico removes what policy-makers view as the biggest risk to the economy.
The central bank increased its policy rate by 25 basis points to 1.75%. The decision marks the third increase this year and the fifth since it began normalisation in 2017.
In the press conference following the decision, senior deputy governor Carolyn Wilkins said the increase to 1.75% was
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