{"id":6521,"date":"2022-09-07T10:36:03","date_gmt":"2022-09-07T18:36:03","guid":{"rendered":"https:\/\/blog.justo.ca\/blog-admin\/?p=6521"},"modified":"2023-09-13T11:37:27","modified_gmt":"2023-09-13T19:37:27","slug":"bank-of-canada-hikes-interest-rate","status":"publish","type":"post","link":"https:\/\/blog.justo.ca\/blog\/bank-of-canada-hikes-interest-rate\/","title":{"rendered":"Bank of Canada Hikes Key Interest Rate to 3.25%"},"content":{"rendered":"\n<p>Today, the Bank of Canada announced a 0.75% increase to its key overnight rate, bringing it to 3.25%. The increase is the fifth this year; at the start of the 2022, the bank&#8217;s rate was 0.25%.&nbsp;<\/p>\n\n\n\n<p>In the rate announcement, the Bank of Canada says global inflation remains high while the Canadian economy continues to operate in \u201cexcess demand.\u201d<\/p>\n\n\n\n<p>Canada\u2019s year-over-year inflation rate was 7.6% in July, easing from 8.1% in June as gas prices fell. The Bank of Canada has an inflation rate target of 2%.&nbsp;<\/p>\n\n\n\n<p>The next scheduled date for announcing the overnight rate target is October 26, 2022.&nbsp;<\/p>\n\n\n\n<p>You can read the entire official Bank of Canada announcement <a href=\"https:\/\/www.bankofcanada.ca\/2022\/09\/fad-press-release-2022-09-07\/\">here.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today, the Bank of Canada announced a 0.75% increase to its key overnight rate, bringing it to 3.25%. The increase is the fifth this year; at the start of the 2022, the bank&#8217;s rate was 0.25%.&nbsp; In the rate announcement, the Bank of Canada says global inflation remains high while the Canadian economy continues to [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":6860,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1,11,10],"tags":[14,12],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bank of Canada Hikes Interest Rate to 3.25% - Justo Real Estate<\/title>\n<meta name=\"description\" content=\"The Bank of Canada announced a 0.75% increase to its key overnight rate, bringing it to 3.25%. 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