👉The Bank of Canada raised the overnight rate to 5%, the bank rate to 5¼ % and the deposit rate to 5%. The bank continues its quantitative tightening. Global inflation is slowing, with lower energy prices and a decline in the price of goods. However, strong demand and a tight labour market lead to persistent inflationary pressures on jobs. Economic growth has been stronger than expected, particularly in the United States, where consumer and business spending has grown strongly. Global economic conditions have stretched, with inflation increasing in North America and Europe, and central banks signaling that additional interest rates may be necessary to combat inflation.✅ . . #BankOfCanada #InterestRates #QuantitativeTightening #Inflation #GlobalEconomy #EconomicGrowth #mnm #malayalisnearmeapp #canadaupdate #canadanews