The Bank of Canada on Wednesday announced its widely expected decision to raise interest rates by another half a percentage point, saying inflation remains "too high."
The Canadian central bank increased its target for the overnight rate by 50 basis points to 4.25 percent, marking the seventh consecutive rate hike.
However, comments in the accompanying statement seemed to suggest the Bank of Canada is nearing the end of its tightening cycle.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.