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MNI BRIEF: BOC Won't Rule Out 'Very Unusual' Hike Beyond 50BPS

(MNI) OTTAWA
OTTAWA (MNI)

Bank of Canada Governor Tiff Macklem kept open the option for raising interest rates by more than half a point while saying it would be a less likely option than repeating last month's increase.

“As we get to our next decision, the typical step would be 25 basis points, as I said earlier, I expect we will be considering a 50 basis point rate increase,” he told the House of Commons finance committee. “I’m not going to rule out other options, but anything bigger than 50 basis points would be very unusual.”

Earlier the Governor said he could move forcefully if needed to battle stronger-than-expected inflation.

MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
Bank of CanadaPolicy NewsCanada Bank of Canada Market NewsCentral Bank NewsBriefStoryRegionNorth America
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
Bank of CanadaPolicy NewsCanada Bank of Canada Market NewsCentral Bank NewsBriefStoryRegionNorth America

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