The U.S. Federal Reserve held interest rates steady on Wednesday. With the Bank of Canada hiking again, here's what that could mean for inflation and rates north of the border.
The U.S. Federal Reserve held interest rates steady on Wednesday. With the Bank of Canada hiking again, here’s what that could mean for inflation and rates north of the border.
Bank of Canada deputy governor Paul Beaudry says recent economic data suggests the risk of sticky inflation has gone up, prompting the latest interest rate hike.
The unemployment rate rose to 5.2 per cent in May, Statistics Canada said, with the Bank of Canada watching closely as it weighs future interest rate decisions.
The latest interest rate hike was designed to help prevent inflation from getting stuck above the bank's 2.0 per cent target, but higher rates will have an impact on families.