Rate round-up: Canada, Peru hike as Sarb cuts
The Bank of Canada on Wednesday raised its target overnight rate by a quarter of a percentage point to 1%. The corresponding bank rate is 1.25%, the deposit rate is 0.75%.
The central bank forecast consumption growth to remain solid and business investment to rise strongly as a result of the accommodative credit conditions seen in Canada, which it said had eased further in recent weeks, mainly owing to sharp declines in global bond yields.
Economic activity in Canada was "slightly softer" in the
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