Bank of Canada Publishes Rate Hike Rationale for First Time

Bank of Canada Governor Tiff Macklem gestures during a press conference at the Bank of Canada in Ottawa, on Oct. 26, 2022. The Canadian Press/Sean Kilpatrick

Canada’s central bank published on Feb. 8 a summary of internal deliberations that led to its latest policy rate hike of Jan. 25, a first for the institution in a bid to increase transparency.

The account states that the Bank of Canada’s (BoC) governing council began its discussions on whether to maintain or raise the rate by reviewing international events.