Seven of the nine central banks overseeing the 10 most heavily traded currencies that met in June hiked rates, while two opted for no change
Both Norway and the Bank of England surprised markets last month with a larger-than-expected 50 basis points move, while Canada and Australia resumed their rate hiking cycles. Sweden, Switzerland and the European Central Bank also tightened policy, taking the total monthly tally of hikes to 225 basis points last month. May had seen six rate hikes across six meetings.
“Without fiscal policy ready to save the day, we see a more uncertain growth environment with downside risks building over the cyclical horizon.” While the U.S. Federal Reserve’s pause at its June meeting did not come as a surprise, the hawkish outlook from the world’s top central bank sent tremors through markets.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cariboo court docket: June 22-28, 2023Sentences for offences committed in Quesnel, Williams Lake, 100 Mile House and areas
Read more »
Hesson: Children's books for July 2023Barbra Hesson reviews kids\u0027 books for July 2023.
Read more »
B.C. Wildfire Map 2023: Updates on fire locations, evacuation alerts/ordersView our wildfire tracker and get the latest information on fires in British Columbia, including air quality information and current bans.
Read more »
Who will have the 2023 song of the summer? We offer some predictionsThe Associated Press offers these 2023 summer-song predictions, as well as some past crown-holders
Read more »
REVIEW: Mark Guiliana Quartet at the 2023 Ottawa Jazz FestivalMark Guiliana Quartet at the 2023 Ottawa Jazz Festival
Read more »