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Canada’s Inflation Rate Jumps to 4%: Gas, Rent, Food, and More
In the latest report published September 19, 2023, Canada’s Consumer Price Index (CPI) for August rose by 4.0% year over year, following a 3.3% increase in July.
Fed Remains Hawkish, Focused on Restoring Price Stability with Large Rate Hike
The Federal Reserve remains strongly committed to bringing down inflation in the United States to its 2% goal. Today (Wednesday), Fed Chair Jerome Powell announced a policy interest rate hike of 75 basis points.
Bank of Canada Warns More to Come After Another 75 Bps Rate Hike
The Bank of Canada (BOC) maintained its aggressive stance towards inflation as it raised interest rates by 75 basis points (bps). This is the fourth consecutive “outsized” hike, bringing its target overnight rate to 3.25%.
