top of page

Bank of Canada increases interest rate

  • Writer: Web Writers
    Web Writers
  • Jun 7, 2023
  • 1 min read

The Bank of Canada increase the interest rate today to 4.75 percent.


While the global consumer price inflation is coming down, largely reflecting lower energy prices compared to a year ago, underlying inflation remains high according to the Bank of Canada.


In April, inflation increased to 4.4 percent. That was the first increase in 10 months. Prices for a broad range of goods and services were higher than expected.


The Bank Rate is at 5 percent and the deposit rate at 4.75 percent. The Bank is also continuing its policy of quantitative tightening.


 
 
 

Comments


bottom of page