Bank of Canada set to release summary explaining latest interest rate hike – National | 24CA News
The Bank of Canada will launch a abstract of its deliberations on the newest rate of interest hike later Wednesday, the primary time the central financial institution is giving Canadians a peek backstage into its decision-making course of.
The financial institution final yr introduced it will begin publishing these summaries about two weeks after its rate of interest selections in an effort to enhance transparency round how its selections are made.
This comes after the central financial institution hiked rates of interest aggressively over a interval of lower than a yr, bringing its key fee from 0.25 per cent in March to 4.5 per cent on Jan. 25 in a bid to fight skyrocketing inflation.
After its newest hike, the financial institution signalled it’s taking a pause to let the consequences of upper charges sink in.
The Federal Reserve, which is the Bank of Canada’s U.S. counterpart, publishes minutes of its conferences three weeks after coverage selections.
The Bank of Canada hasn’t stated what format the deliberation summaries will take or how a lot element it’ll present.
