Bank of Canada to announce interest rate decision today, expected to hike to 4.5 per cent

OTTAWA –

The Bank of Canada is about to announce its newest rate of interest determination this morning as markets broadly anticipate the central financial institution to hike its key rate of interest by 1 / 4 of a share level.

That would carry its key rate of interest to 4.5 per cent, the very best it has been since 2007.

The Bank of Canada has raised rates of interest seven consecutive instances since March within the face of decades-high inflation.

Economists anticipate right this moment’s charge hike to be the final of the cycle.

Given there’s a delay between hikes and their results on spending, the Bank of Canada is predicted to watch how the financial system evolves within the coming months.

The central financial institution can even publish its quarterly financial coverage report right this moment, which can supply up to date projections for financial progress and inflation.

This report by The Canadian Press was first printed Jan. 25, 2023