Bank of Canada on standby to raise rates further, summary reveals hawkish tone to deliberations | CityNews Calgary

Further rate of interest hikes from the Bank of Canada are very a lot nonetheless on the desk as its governing council stays cut up on whether or not charges might must rise additional. 

The central financial institution launched its abstract of deliberations Wednesday detailing the discussions governing council members had within the lead-up to its Oct. 25 price resolution.

The abstract says some members believed it’s extra seemingly than not that rates of interest might want to go greater to get inflation again to focus on ranges. 

But different members thought its key price is now excessive sufficient to carry inflation down, as long as the central financial institution maintains it at that degree for lengthy sufficient. 

While the Bank of Canada in the end determined to exert endurance by holding its key price regular at 5 per cent, members of the governing council agreed to revisit whether or not charges must rise additional. 

The central financial institution stays involved that inflation is just not falling quick sufficient, regardless of the economic system responding to greater rates of interest.