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via wsj.comEconomy

Bank of Canada raised rates to mitigate inflation risk, minutes say

FROM THE WIRE · WSJ.COM

Senior policymakers agreed it was prudent to raise rates to dampen upside inflation risks despite elevated uncertainty and the presence of economic slack, according to meeting minutes.

Read at the source ↗
MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishThe minutes confirm the restrictive stance of the Canadian central bank, relevant for the USD/CAD exchange rate.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Senior policymakers agreed it was prudent to raise rates.
  2. 02The aim was to dampen upside inflation risks.
  3. 03The move came despite elevated uncertainty and the presence of economic slack.

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