announcement

Understanding the Bank of Canada’s Monetary Policy Decision and Economic Outlook

The Bank of Canada’s recent decision to maintain its target for the overnight rate at 5% holds implications for both the domestic and global economy. This article provides insights into the Bank’s stance, the economic forecast, and its potential impact on Canadians.

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Bank of Canada Rate Announcement Jan 25th, 2023

The Bank of Canada today increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening.

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BCREA Economics – Bank of Canada Interest Rate Announcement – October 26, 2022

The Bank of Canada raised its overnight policy rate by 50 basis points, bringing it to 3.75 per cent, its highest level since 2008.  In the statement accompanying the decision, the Bank noted that the Canadian economy continues to operate in excess demand and tight labour markets and as a result inflation remains elevated.

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