The central bank on Wednesday released notes of the deliberations surrounding itsThe Bank of Canada’s July hike followed another quarter-percentage-point increase to the policy rate in June.
In preliminary discussions of where to take the key rate next and how to communicate its messaging, policymakers opted to leave future rate decisions up to a meeting-by-meeting basis.“They agreed they were prepared to raise the policy rate further if inflationary pressures did not ease as projected and progress toward the target stalled,” the deliberations read. “But they did not want to do more than they had to.
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