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This is the central bank’s eighth consecutive increase in an unprecedented cycle of hiking that began last March when the lending rate stood at 0.25 per cent.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
The Bank delivered 25 basis points as expected, and is once again leading the way among global central banks as it’s the first to signal a pause. The shift was a bit more dovish than anticipated, driving Government of Canada bond yields lower and putting the Canadian dollar on the defensive. While policymakers haven’t shut the door on more hikes, the bar for further tightening is quite high. It looks like a March move is off the table barring some wild data.
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