👉The Bank of Canada today increased its target for the overnight rate to 3.25%, with the Bank Rate at 3.50% and the deposit rate at 3.25%. The Bank is also continuing its policy of quantitative tightening. This decision is also expected to affect the US Dollar. BOC was one of the first banks to tighten their monetary policies post COVID-19 stimulus. Global inflation remains high and measures of core inflation are moving up in most countries. In response, central banks around the world continue to tighten monetary policy.✅ . . #BankofCanada #CentralbankCanada #Bankofcanadainterest #Canadainterestrate #Bankinterestrate #dailynewscanada #candadianmallu #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉Description- The central bank's decision signals a more aggressive approach to reigning in skyrocketing inflation, which reached a 39-year-high of 7.7 per cent in May.✅ . . #BankofCanada #CentralbankCanada #Bankofcanadainterest #Canadainterestrate #Bankinterestrate #dailynewscanada #candadianmallu #mnm #malayalisnearmeapp-