Published 4 months ago

Bank of Canada raises key interest rate to 4.75 per cent

The Bank of Canada raised its overnight rate by 25 basis points to 4.75%, citing economic growth and strong consumer spending.
Inflation concerns remain, with Goods price inflation increasing and services price inflation remaining elevated due to strong demand and a tight labour market.
The bank will continue to assess inflation expectations, wage growth, corporate pricing, and excess demand to ensure factors are in line with the inflation target, with the next rate announcement expected on July 12, 2023.

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CTV News

Bank of Canada ends pause on hikes, raises policy rate by 25 basis points

The Bank of Canada raised its overnight rate by 25 basis points to 4.75 per cent on Wednesday, its first increase since pausing hikes in January.

4 months ago

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CBC News

Bank of Canada hikes interest rate again — and there may be more to come

The Bank of Canada decided to raise its benchmark interest rate to 4.75 per cent on Wednesday.

4 months ago·Canada

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Global News

‘Cost of living, food, gasoline’: Bank of Canada’s interest rate change a worry for some

The latest interest rate hike was designed to help prevent inflation from getting stuck above the bank's 2.0 per cent target, but higher rates will have an impact on families.

4 months ago·Toronto, Canada

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CNBC

Bank of Canada hikes rates to 4.75%, highest in 22 years

Many analysts believed the central bank was likely to hold off on rate hikes at least until its next meeting in July.

4 months ago·United States

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RTÉ

Bank of Canada hikes rates to highest in 22 years

The Bank of Canada has hiked its key overnight benchmark rate to 4.75%, the highest level in 22 years, on increasing concerns that inflation could get stuck significantly above its 2% target amid persistently strong economic growth.

4 months ago·Ireland

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