The Bank of Canada is set to publish its first summary of deliberations Wednesday, giving Canadians a peek into the governing council’s reasoning behind its decision to raise interest rates last month.

Following a recommendation from the International Monetary Fund, the central bank announced in September that it would begin releasing summaries about two weeks after an interest rate decision starting in 2023 in an effort to improve transparency.

The Bank of Canada raised its key interest rate for the eighth consecutive time since March on Jan. 25, bringing it to 4.5 per cent. At the time, the central bank signalled it would be taking a pause on any further hikes to let the impact of its aggressive hiking cycle sink in.

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