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Bank of Canada Lifts Interest Rates by Half Point, Signals End of Tightening
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OTTAWA—The Bank of Canada raised its main interest rate by a half-percentage point and signaled it is at or near the end of its rapid-fire tightening campaign because of slowing growth and early signs of easing price pressures.
The central bank on Wednesday increased its target for the overnight rate to 4.25% from 3.75%, the highest level in nearly 15 years. The economists surveyed by The Wall Street Journal ahead of the policy decision were split on how big a rate rise the bank would deliver. Half said a half point, given labor-market tightness and stronger-than-expected growth, and the other half expected a quarter-point increase, citing signs of weaker consumer spending.
Read more on wsj.comAbout this in other media
Bank of England Raises Rates by 0.5 Point, Slowing Pace of Tightening wsj.com /1 year ago
Fed raises interest rates half a point to highest level in 15 years cnbc.com /1 year ago
How Long Should Powell Keep Raising Interest Rates? Fed Officials Are Divided wsj.com /1 year ago
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