September 2, 2022 | In response to the possibility of the Bank of Canada raising interest rates next week, Director Christopher Ragan said the central bank is best-suited to take on the responsibility of maintaining low interest rates.
“There’s very, very good reasons why we have operationally independent central bank trying to target inflation rather than governments, because governments in the past have done a very poor job at that,” he said.
“For months the consensus has been that interest rates in Canada would remain stable right into 2018. Now Bank of Canada governor Stephen Poloz and his colleagues are dropping broad hints that the central bank will move a lot sooner, perhaps as early as next Wednesday’s meeting.” (Toronto Star)
"In a surprise move, the Bank of Japan has introduced a negative interest rate. The benchmark rate of -0.1% means that commercial banks will be charged by the central bank for some deposits." (Source: BBC)
The U.S. central bank began raising interest rates Dec. 16 from record lows, as it hiked its benchmark rate by a quarter of a percentage point. (Source: CBC)
“Increases in the policy interest rate in the United States will reflect the data showing that the U.S.
Economy is really strengthening, after years of a sluggish recovery.
