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,...
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