Bank of Canada Overnight Target Interest Rate Lifted from 4.75% to 5.0%

Acting at every scheduled policy review from March 2022 until January 2023, the Bank of Canada governing council had raised its interest rate target from 0.25% to 4.50% and also began a program of balance sheet reduction that supplemented monetary tightening. The rate was not changed at the following two reviews, but a cycle of […]