EWC - Bank Of Canada Delivers A Supersized 1% Rate Hike Biggest Jump Since 1998
- The Bank of Canada raised the overnight rate to 2.5% and stated that it will continue with Quantitative Tightening (QT).
- Orlando: This big step up in rates is uncommon, so too is the economic backdrop.
- Orlando: The hit to consumers from high inflation and rising rates will weigh on growth over the remainder of this year and into 2023.
The Bank of Canada has raised its overnight interest rate by a full percentage point, a surprise move that boosts its effort to tackle runaway inflation. Greg Bonnell speaks with James Orlando, Director & Senior Economist, TD Bank, about the potential impact of rising rates.
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Bank Of Canada Delivers A Supersized 1% Rate Hike, Biggest Jump Since 1998