The Bank of Canada says it's trying to not raise interest rates more than it has to, as members of the governing council are mindful of the risks associated with raising rates too much.
The central bank released its summary of deliberations Wednesday, providing insight into its decision to raise interest rates again earlier this month as the economy runs hotter than expected.
The summary says the governing council considered whether rate hikes are just taking longer to affect the economy, or whether interest rates have not risen enough to slow the economy and bring inflation down. Ultimately, they decided that both factors were partly at play, but that cost of waiting too long to raise rates outweighed the benefits.
But the Bank of Canada is still concerned about price growth, as core measure of inflation that strip out volatility remain high.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada bans some fossil fuel subsidies, meeting decade-old G-20 pledge - BNN BloombergCanada introduced guidelines to ban some fossil fuel subsidies, targeting those that disproportionately benefit oil and gas, solely support sector activities or endorse consumption of fuels that worsen climate change.
Read more »
Federal farm lender says financial help coming for farmers affected by Western Canada drought - BNN BloombergFarm Credit Canada (FCC) says it will take steps reduce financial pressure on farmers in Western Canada affected by dry weather conditions in the region.
Read more »
Nova Credit, which offers credit history to newcomers, launches in Canada - BNN BloombergNova Credit has partnered with Scotiabank to offer newcomers a “credit passport,” which allows customers to access their foreign credit history.
Read more »
Bank of Canada should stop hiking interest rates now: Benjamin TalCIBC\u0027s Benjamin Tal talks about why he thinks the Bank of Canada has started overshooting with interest rate hikes. Watch here.
Read more »
Bank of Canada should stop hiking interest rates now: Benjamin TalCIBC\u0027s Benjamin Tal talks about why he thinks the Bank of Canada has started overshooting with interest rate hikes. Watch here.
Read more »
Bank of Canada should stop hiking interest rates now: Benjamin TalCIBC\u0027s Benjamin Tal talks about why he thinks the Bank of Canada has started overshooting with interest rate hikes. Watch here.
Read more »