Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening

Bank of Canada increases policy interest rate by 25 basis points, continues quantitative tightening

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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. Global inflation remains high and broad-based. Inflation is coming down in many countries, largely…

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