Global fintech and funding innovation ecosystem

BoC Holds Interest Rate at 4.5%

CBC News | Pete Evans | April 12, 2023

Canada inflation rate - BoC Holds Interest Rate at 4.5%

Image: CBC

The Bank of Canada decided to hold its interest rate steady at 4.5 per cent on Wednesday while the impact of its previous rate hikes filters down through the economy.

  • The Bank of Canada's decision to hold interest rates was expected as they had previously signaled a pause in rate hikes. After reducing rates during the pandemic, the bank had aggressively raised them eight times between March 2022 and February 2023 due to high inflation.
  • Inflation peaked at over eight percent in June 2022 but has since cooled to around five percent.
  • The bank's decision to hold rates will likely have a stabilizing effect on the economy by keeping borrowing costs low and supporting consumer spending and business investment.

See:  Visual Capitalist: Inflation Rates and Interest Rate Hikes by Country

How Canadas inflation rate compares - BoC Holds Interest Rate at 4.5%

Image: CBC

Continue to the full article --> here


NCFA Jan 2018 resize - BoC Holds Interest Rate at 4.5%The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - BoC Holds Interest Rate at 4.5%FF Logo 400 v3 - BoC Holds Interest Rate at 4.5%community social impact - BoC Holds Interest Rate at 4.5%

Support NCFA by Following us on Twitter!







NCFA Sign up for our newsletter - BoC Holds Interest Rate at 4.5%




 

Leave a Reply

Your email address will not be published. Required fields are marked *

four × two =