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Bank of Canada Raises Rate by Half Point, Warns of Unanchored Inflation Expectations
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OTTAWA—The Bank of Canada pulled the trigger on its biggest rate increase in over two decades and said further rises are necessary to keep long-term inflation expectations anchored closer to its 2% target.
The Bank of Canada lifted its target for the overnight rate by a half-percentage point from 0.50% to 1.0%. In its latest policy decision, the central bank also said it would begin reducing the assets on its balance sheet, which expanded as it made large-scale asset purchases for the first time to stabilize financial markets during the pandemic. That process would begin April 25.
Read more on wsj.comAbout this in other media
Bank of Canada’s Tiff Macklem Says Central Bank Needs to Normalize Policy Quickly wsj.com /2 years ago
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Canada CPI Accelerates to 6.7% in March wsj.com /2 years ago
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