Happy Monday Morning ! As expected, the Bank of Canada raised interest rates another 75bps this past week. The overnight rate is now up a whopping 300bps year to date, the quickest tightening of monetary policy on a percentage basis since the 1980’s. While there was no additional commentary from BoC Governor Tiff Macklem, the official press release notes, “Given the outlook for inflation, the Governing Council still judges that the policy interest rate will need to rise further.”
Concise and informative. Looking forward to your newsletters.
Excited to follow the newsletter :)