Canada’s central bank published on Feb. 8 a summary of internal deliberations that led to its latest policy rate hike of Jan. 25, a first for the institution in a bid to increase transparency.
The account states that the Bank of Canada’s (BoC) governing council began its discussions on whether to maintain or raise the rate by reviewing international events.
It noted the substantial decline in global energy prices, the easing of supply chain bottlenecks, and the sudden lifting of COVID-19 restrictions in China.
The account says that the council spent “considerable time” discussing China, seeing the latest development as a source of uncertainty….