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via fxstreet.comEconomy

BoC recap: rates up and perhaps another hike on the cards

FROM THE WIRE · FXSTREET.COM

The Bank of Canada (BoC) raised its overnight rate by 25 basis points to 2.50% on Wednesday, warning that higher-for-longer energy prices and stronger cost pass-through could keep inflation elevated.

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MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bullishA Bank of Canada rate hike moves the Canadian dollar and rate expectations.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01The Bank of Canada raised its overnight rate by 25 basis points to 2.50%.
  2. 02The bank warns high energy prices could keep inflation elevated.
  3. 03Stronger cost pass-through could keep inflation elevated.

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