The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening.
Inflation in advanced economies is decreasing, but core inflation remains high, so central banks are focused on price stability.
Global growth slowed in Q2 2023, mainly due to a slowdown in China. Weakness in China's property sector has lowered growth prospects.
The U.S. saw stronger-than-expected growth, driven...
