The Bank of Canada is set to announce its latest interest rate decision this morning as markets widely expect the central bank to hike its key interest rate by a quarter of a percentage point.
The Bank of Canada has raised interest rates seven consecutive times since March in the face of decades-high inflation.Given there is a delay between hikes and their effects on spending, the Bank of Canada is expected to monitor how the economy evolves in the coming months.
The central bank will also publish its quarterly monetary policy report today, which will offer updated projections for economic growth and inflation.
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