Bank of Canada\u0027s rate hike minutes said the second rationale was \u0027the risk of inflation getting stuck somewhere above 2%\u0027. Find out more.
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“Council wanted to convey that the bar for additional rate increases was now higher” and to “give a clear sense that they would need an accumulation of evidence to determine whether further rate increases would be required” to return inflation to target. The Bank of Canada had stood out from its peers, including the United States Federal Reserve, the Bank of England and the European Central Bank, in not providing some form of record of their meetings.
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Bank of Canada takes historic step in improving transparency with release of minutesThe Bank of Canada will release minutes from its policy setting meeting for the first time on Wednesday, as the central bank battles to restore credibility lost during last year's fight to contain inflation. The Bank of Canada has come under a rare attack from critics, including the opposition Conservative leader Pierre Poilievre, for misjudging inflation, which led to renewed calls for it to release minutes and be more transparent about its decision-making process. While inflation was a global problem, the Bank of Canada has stood out from its peers, including the U.S. Federal Reserve, the Bank of England and the European Central Bank, in not providing some form of record of their meetings.
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Bank of Canada rate hike reflected labour tightness, stronger-than-expected growthBank of Canada\u0027s rate hike minutes said the second rationale was \u0027the risk of inflation getting stuck somewhere above 2%\u0027. Find out more.
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