Citing elevated inflation, the Bank of Canada on Wednesday announced its sixth consecutive interest rate increase of the year.
The Bank of Canada raised its target for the overnight rate by 50 basis points to 3.75 percent, although economists had been expecting another 75 basis point rate hike.
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Forex News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.