Canada Increases Interest Rates Again By 50-bp, USA Likely To Match

[Economy 52,844]

https://www.bnnbloomberg.ca/bank-of-canada-hikes-key-interest-rate-half-a-point-to-3-75-1.1837437

 

Canada Raised interest rates by 50 basis points today from 3.25% to 3.75%. although lower than the 75 basis points the market was expecting, Canada maintains its status as the developed economy with the highest interest rates

 

The United States which currently has a rate of about 3% is expected to raise rates by 75 basis points in the coming days, taking it to about 3.75% to match Canadas

 

[pachinko 10,753]

Why are they doing this?

[Economy 52,844]

19 minutes ago, pachinko said:

Why are they doing this?

To try to cool demand to get inflation under control