Some members of the Bank of Canada's (BoCs) policy-setting governing council saw the likely need for further interest rate hikes when they left borrowing...
OTTAWA - Some members of the Bank of Canada's policy-setting governing council saw the likely need for further interest rate hikes when they left borrowing costs on hold on Oct. 25, minutes published on Wednesday showed.
"Some members felt that it was more likely than not that the policy rate would need to increase further to return inflation to target," the minutes read. "Others viewed the most likely scenario as one where a 5% policy rate would be sufficient to get inflation back to the 2% target, provided it was maintained at that level for long enough.
The bank increased rates 10 times between March 2022 and this July, with inflation peaking at more than 8% last year. Inflation in September was 3.8%, but the BoC says it will not come down to target until end-2025. 'What are you, an idiot?': Kevin O’Leary says people are wasting 15 to 20% of their income on ‘stupid stuff’ like coffee and sandwiches — here’s what he wants you to do insteadLawrence O’Donnell Reveals The 1 Word From Trump That ‘Destroyed’ His DefenseReuters/Shannon StapletonJudge Tanya Chutkan ruled Tuesday that Donald Trump’s attorneys could have a extra few weeks to file subpoenas and motions regarding evidence in his Washington election-subversion trial—a far cry from the...
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