BoC hikes 25bps, raises 2023 GDP and CPI forecasts

<p>BoC raises overnight rate by 25bps to 5.00% as widely expected. Correspondingly, the Bank Rate and deposit rate are increased to 5.25% and 5.00% respectively. In the new economic projections, both GDP and CPI forecasts for 2023 are upgraded. Nevertheless, the central bank didn’t explicitly state a tightening bias in the statement. But the Governing […]</p>
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