'Hold my beer': Experts react to BoC's historic rate hike
BNN Bloomberg
The Bank of Canada delivered a larger-than-expected interest rate hike of a full percentage point Wednesday, bringing its overnight rate to 2.5%. Here’s what Bay Street had to say about the rate hike
It’s the largest increase since 1998 and demonstrated the central bank’s resolve in fighting surging consumer price growth.
Here’s what Bay Street had to say about the rate hike:
“The Bank of Canada saw the Fed hike 75 [basis points] and said ‘Hold my beer.’ After seeing inflation and inflation expectations rise since their last decision, central bankers saw such drastic action as necessary.”
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Global benchmarks mostly rebounded Tuesday, in a mood of cautious relief after U.S. President Donald Trump said the United States has talked with Iran about a possible end to their war.
It’s that time of the year again, tax time, a time to file your annual return with the Canadian Revenue Agency.
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Stock markets in Canada and the U.S. rallied after President Donald Trump said the United States has talked with Iran about a possible end to the war.
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