The Bank of Canada on Wednesday delivered the first 100-basis-point rate increase among the world's advanced economies in the current policy-tightening cycle as officials there eyeballed 'higher and more persistent' inflation.
Bank of Canada Governor Tiff Macklem takes part in a news conference in Ottawa, Ontario, Canada April 13, 2022. REUTERS/Blair GableJuly 13 - The Bank of Canada on Wednesday delivered the first 100-basis-point rate increase among the world's advanced economies in the current policy-tightening cycle as officials there eyeballed "higher and more persistent" inflation.
It acted days after data showed 8.6% annual U.S. inflation. An even hotter inflation reading on Wednesday of 9.1% year-over-year triggered a market frenzy over potentially even more aggressive responses in the coming months.2) NEW ZEALAND