Bank of Canada requires additional evidence to determine whether rates are sufficiently high

The Bank of Canada needs more evidence to gauge if interest rates are high enough to tame inflation, in part because the economies of major trading partners are doing better than forecast, Senior Deputy Governor Carolyn Rogers (NYSE:ROG) said on Thursday.

On Wednesday, the bank left its key overnight interest rate on hold at 4.50%, becoming the first major central bank to suspend a tightening campaign as inflation eases. Inflation slowed to 5.9% in January, still far above the BoC’s 2% target.

Source : Bank of Canada requires additional evidence to determine whether rates are sufficiently high