Central Bank of Canada raises core interest to 1 percent
17/9/2017 12:00 am
[rtl]Toronto / Nafie Fartousi
The Bank of Canada (CBB) unveiled its key interest rate hike, also known as overnight interest, from 0.75 percent to 1 percent, pointing to the good performance of the Canadian economy, improved dollar exchange and strong economic data showing real GDP growth in the country.
"The recent economic data exceeded expectations, supporting the central bank's view that Canada's growth is becoming more inclusive and self-sustaining," Hughier said in a press release explaining the decision. "Consumer spending is still solid and is supported by the large and sustained expansion of the labor market and incomes."
The Bank of Canada's decision shortly after strong economic data showed real GDP growth in the country in June for the eighth month Respectively, and attaining proportions Growth in the first half of this year is 3 percent at an annual pace, the highest semi-annual growth of the Canadian economy since 2002.
The Bank of Canada (CBB) has already raised its key interest rate from 0.50 percent to 0.75 percent on July 12. This was the first time that the Bank of Canada raised the key interest rate since September 2010. The
key interest rate has an impact on the interest paid by debtors, such as the variable real interest rate and the benefits accruing to the savings.[/rtl]