Bank of Canada Raises Rates, Explicitly Signals Pause Ahead
In what could become its last move in this tightening cycle, the Bank of Canada lifted its benchmark overnight rate by a quarter percentage point to 4.50 percent this morning, while clearly setting the stage for a conditional pause at coming meetings. In the statement accompanying the decision, the central bank said “The Bank’s ongoing program of quantitative tightening is complementing the restrictive stance of the policy rate. If economic developments evolve broadly in line with the MPR (Monetary Policy Report) outlook, Governing Council expects to hold the policy rate at its current level while it assesses the impact of...