Skip to main content
See every side of every news story
Get Started
SubscribeLogin
Published • loading... • Updated

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.
Insights by Ground AI

68 Articles

Global NewsGlobal News
Lean Left

‘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.

·Toronto, Canada
Read Full Article
crestonvalleyadvance.cacrestonvalleyadvance.ca
Lean Left

Bank of Canada’s interest rate hike a ‘mistake,’ says B.C. economist - Creston Valley Advance

Marc Lee fears the rate hike will not fight inflation, but actually make it worse

Read Full Article
Caledonia CourierCaledonia Courier
Lean Left

Bank of Canada’s interest rate hike a ‘mistake,’ says B.C. economist - Caledonia Courier

Marc Lee fears the rate hike will not fight inflation, but actually make it worse

Read Full Article
grandforksgazette.cagrandforksgazette.ca
Lean Left

Bank of Canada’s interest rate hike a ‘mistake,’ says B.C. economist - Grand Forks Gazette

Marc Lee fears the rate hike will not fight inflation, but actually make it worse

Read Full Article
ominecaexpress.comominecaexpress.com
Lean Left

Bank of Canada’s interest rate hike a ‘mistake,’ says B.C. economist - Vanderhoof Omineca Express

Marc Lee fears the rate hike will not fight inflation, but actually make it worse

Read Full Article
Houston TodayHouston Today
Lean Left

Bank of Canada’s interest rate hike a ‘mistake,’ says B.C. economist - Houston Today

Marc Lee fears the rate hike will not fight inflation, but actually make it worse

Read Full Article
Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/yearSubscribe

Bias Distribution

  • 70% of the sources lean Left
70% Left

Factuality Info Icon

To view factuality data please Upgrade to Premium

Ownership

Info Icon

To view ownership data please Upgrade to Vantage

Le Devoir broke the news in Montreal, Canada on Wednesday, June 7, 2023.
Too Big Arrow Icon
Sources are mostly out of (0)

Similar News Topics

Business icon

Business

Bank of Canada icon

Bank of Canada

Ontario Politics icon

Ontario Politics

Canadian Economy icon

Canadian Economy

Central Bank icon

Central Bank

Economy icon

Economy

Inflation icon

Inflation

News
Feed Dots Icon
For You
Search Icon
SearchBlindspot LogoBlindspotLocal