Bank of Canada not ruling out another oversized hike to fight inflation
November 4, 2022
November 4, 2022
Advocacy
The Bank of Canada surprised markets with a smaller-than-expected 50-basis point increase last week, lifting the policy rate to 3.75%. It also forecast the economy would stall over the next three quarters.
Meanwhile, inflation has relaxed to 6.9% from a former high of 8.1%, but still sits above the central bank’s target of 2% and underlying price pressures continue to be broad-based.
