[WSJ]
Bank of Canada Surprises With Full-Point Rate Rise to Combat Inflation
Move raises policy rate to 2.5% as BOC says more rises are needed to slow
price growth
Gov. Tiff Macklem said the Bank of Canada's one-percentage-point
increase was needed to prevent expectations for higher inflation from
becoming entrenched.
.....
The Bank of Canada lifted its target for the overnight rate to 2.50% from
1.50%, the biggest onetime increase since 1998, when monetary officials
tried to bolster the domestic currency amid financial crises in Asia and
Russia. The last time the Bank of Canada's policy rate was this high was
in the fall of 2008, or before the onset of the global financial crisis.
All but one of 12 economists surveyed last week by The Wall Street Journal
predicted an increase of 0.75 points.
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rest:
https://www.wsj.com/articles/bank-of-canada-surprises-with-full-point-rate-rise-to-combat-inflation-11657721714?st=as3st08f83ozp8j&reflink=desktopwebshare_permalink
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