Today's Central Bank Announcement
The Bank of Canada ends 2022 with another interest rate hike. Find more here.
At 10 am eastern, the Bank of Canada announced another increase in its policy interest rate. With no other BoC policy announcements scheduled before 2023, Canada is expected to end the year with an overnight rate of 4.25%. That’s the highest it has been in 15 years as the BoC struggles to tame inflation. To learn more about the Bank’s motivation for this latest hike, and its thoughts on the way forward, please see the summary report on our website. This is not the first time we have faced the challenges of tight money supply: the overnight rate was over 10% the year we began operations. What we learned then and continue to apply today is to stay focused on providing the best service for you and your clients. In that regard, please contact us at any time if we can be of assistance as your committed, reliable lending partner.