Stocks rebound, tech leads as central banks get hawkish: Stock market news today - Yahoo Canada Finance

Reuters

Bank of Canada to gauge need for further hikes based on data -minutes

OTTAWA (Reuters) -The Bank of Canada agreed that the need for further rate hikes would be determined by fresh economic data after it lifted rates to a 22-year high earlier this month, minutes from their policy meetings released on Wednesday showed. "Members were of the view that with the resurgence in household spending growth, the pickup in consumer confidence, and the slowing in disinflationary momentum, monetary policy did not look to be sufficiently restrictive," the minutes said. The governing council discussed whether to signal a rate increase and then execute it in July, but decided there was enough data to act immediately.

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2023-06-22 20:05:43Z
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