Breaking: Bank of Canada hikes policy rate by 50 bps vs 75 bps expected – by FXstreetNews Breaking BOC InterestRate Inflation USDCAD
The Bank of Canada hiked its benchmark interest rate by 50 basis points to 3.75% at the end of the October policy meeting this Wednesday. The decision to slow the pace of policy tightening comes amid growing worries about a deeper global economic downturn and disappointed market participants anticipating a 75 bps rate hike. pair, which rallies nearly 150 pips from a three-week low touched earlier this Wednesday.
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