👉The Bank of Canada's policy decision was hawkish, but it was countered by comments that rates may not need to rise further if the economy slows. The USD/CAD exchange rate dropped to roughly 1.3600 from 1.3655 right before the decision but saw substantial purchasing demand. GBP/CAD fell from 8-month highs of 1.6700 to 1.6600 on Tuesday. The Fed remains concerned about inflation. "Inflation is still too high and short-term expectations are strong," it said. The longer consumers and businesses expect inflation to be above target, the more inflation could become entrenched. The next rate decision and MPR update is on January 25.✅ . . #GBPCAD #CAD #exchangerate #CDAtoGBP #CADtoUSD #CADtoINR #bankinterestincanada #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉The Bank of Canada raised interest rates aggressively for a sixth straight time, while opening the door to pausing its hiking cycle. Policymakers led by Governor Tiff Macklem raised the benchmark overnight lending rate by 50 basis points to 4.25% on Wednesday, the highest since the beginning of 2008.✅ . . #bankofcanada #canadabank #bankofcanadainterestrate #interesttrateofcanadabank #interestrate #livingexpensecanada #bankinterestincanada #mnm #malayalisnearmeapp #canadaupdate #canadanews