GBPCAD 27th JULY 2022
75 basis-point hike by the Federal Reserve which would take its increases to 225 basis points since March. That’s much faster than the BOE’s 115 basis points since December, the UK central bank to up the pace by lifting rates 50 basis points at its meeting next week.
The Bank of Canada (BoC) has also been raising benchmark interest rates to tame the runaway inflationary environment. After the recent-most hike by the U.S. Fed, Canadians feared we would see a similar jump in Canada. The BoC, however, announced a massive 100-basis-point interest rate hike, increasing benchmark rates by a full 1% to bring the total figure up to 2.5%.
The Bank of Canada (BoC) has also been raising benchmark interest rates to tame the runaway inflationary environment. After the recent-most hike by the U.S. Fed, Canadians feared we would see a similar jump in Canada. The BoC, however, announced a massive 100-basis-point interest rate hike, increasing benchmark rates by a full 1% to bring the total figure up to 2.5%.
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