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Bank of Canada Hikes Rates for Second Straight Time

The Bank of Canada raised its policy rate to 1.00 percent on Sept. 6 citing growth that is broad-based, self-sustaining, and exceeding its expectations.
Bank of Canada Hikes Rates for Second Straight Time
Stephen Poloz, governor of the Bank of Canada, holds a news conference in Ottawa after the central bank raised interest rates on July 12, 2017. The BoC raised its key policy rate to 1.00 percent on Sept. 6. The Canadian Press/Fred Chartrand
Rahul Vaidyanath
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OTTAWA—The Bank of Canada raised its policy rate to 1 percent on Sept. 6 citing growth that is broad-based, self-sustaining, and exceeding its expectations. Canada’s central bank had just raised its overnight rate target to 0.75 percent in its last decision on July 12.

“The level of GDP is now higher than the bank had expected,” said the BoC in a press release.

Rahul Vaidyanath
Rahul Vaidyanath
Journalist
Rahul Vaidyanath is a journalist with The Epoch Times in Ottawa. His areas of expertise include the economy, financial markets, China, and national defence and security. He has worked for the Bank of Canada, Canada Mortgage and Housing Corp., and investment banks in Toronto, New York, and Los Angeles.
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