BANK OF CANADA / Oct. 24, 2018 / BOC Interest Rate Increase Explained / Reasons Why Rate Increase
Bank of Canada (BOC) increases overnight rate target to 1 ¾ per cent on October 24, 2018. It was an increase from 1.5% to 1.75%. The Bank of Canada felt good about the Canadian Economy, the new USMCA deal between the United-States, Mexico and Canada. The Bank of Canada felt good about GDP Growth and Household spending moving forward. This increase could be viewed as a means to make sure inflation does not grow too rapidly. Bank of Canada (BOC) Interest Rate Announcement Explained. For more information on the Bank of Canada (BoC), please click this link: https://www.bankofcanada.ca/
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