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The Conversation
The Conversation
Ellen D. Russell, Associate Professor, Faculty of Liberal Arts, Wilfrid Laurier University

Interest rate hikes: The Bank of Canada's 'resolute' fight against inflation could threaten its credibility

Bank of Canada Inflation Canada Interest Rates Ben Bernanke Sean Kilpatrick CANADIAN PRESS
Tiff Macklem, Governor of the Bank of Canada, holds a press conference at the Bank of Canada in Ottawa on Jan. 25, 2023. THE CANADIAN PRESS/Sean Kilpatrick

The Bank of Canada “resolutely” declared it will fight inflation by raising interest rates. To demonstrate its unwavering commitment to reaching the bank’s two per cent inflation target, today’s eighth consecutive interest rate hike brings the policy rate to 4.5 per cent. The bank expects to hold the rate for now, but is prepared to increase it again if needed to maintain its target rate.

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