Against expectations, Bank of Canada governor Tiff Macklem raised borrowing costs on Wednesday by another 25 basis-points, bringing the overnight rate from 4.5% to 4.75%. Although policy makers acknowledged consumer prices are declining in line with lower global energy prices, they pointed to a stubbornly high core inflation rate as the main reasoning to continue … Continue reading Tiff Macklem Delivers 25 Basis-Point Interest Rate Hike