OTTAWA (Reuters) -The Bank of Canada will probably have to raise its policy rate to the top of its neutral range, double its current level, and could go higher, to prevent soaring inflation from becoming entrenched, a deputy governor said on Thursday. Paul Beaudry, speaking to a business audience in the Ottawa area, said the central bank was considering the pace at which it moves to neutral, the 2%-3% range where interest rates neither stimulate nor weigh on growth, along with how high rates may go. The central bank on Wednesday increased its policy rate to 1.5% from 1.0%, its second consecutive half percentage point hike, and said it would “act more forcefully” if needed to tame inflation.
— Read on ca.finance.yahoo.com/news/bank-canada-says-rates-may-144710168.html
Skip to content