Bank of Canada to announce interest rate decision this morning

OTTAWA –

The Bank of Canada is predicted to boost its key rate of interest at the moment, making it the seventh consecutive time it does so this yr.

The central financial institution will publish its price determination at 10 a.m. accompanied by a news launch that can present perception into the explanations behind the governing council’s determination.

Forecasters are cut up on whether or not the Bank of Canada will elevate its key price by 1 / 4 or half share level.

Market watchers will likely be listening to the central financial institution’s language for any indication on whether or not extra price hikes ought to be anticipated.

The Bank of Canada started elevating rates of interest in March in response to quickly rising inflation.

After peaking at 8.1 per cent in July, the annual inflation price has slowed to six.9 per cent in October.

This report by The Canadian Press was first printed Dec. 7, 2022.