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CADJPY Canadian Dollar vs Japanese Yen

-0.252 (-0.23%)
Last Updated: 09:03:25
Delayed by 15 minutes

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Name Symbol Market Type
Canadian Dollar vs Japanese Yen FX:CADJPY Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.252 -0.23% 109.317 109.314 109.32 109.455 109.19 109.581 0 09:03:25

Bank Of Canada Resumes Raising Interest Rates

07/06/2023 11:14am


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From Apr 2023 to Oct 2023

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After leaving interest rates unchanged for two straight meetings, the Bank of Canada on Wednesday announced it has decided to once again raise rates.

The Bank of Canada increased its target for the overnight rate by 25 basis points to 4.75 percent, citing stubbornly high inflation and stronger than expected economic growth.

Canada's central bank said the rate hike reflects its view that monetary policy was not sufficiently restrictive to bring supply and demand back into balance and return inflation sustainably to the 2 percent target.

The Bank of Canada also said it is continuing its policy of quantitative tightening, which it said is complementing the restrictive stance of monetary policy and normalizing the bank's balance sheet.

The bank's Governing Council said it will continue to assess the dynamics of core inflation and the outlook for consumer price inflation.

The Bank of Canada reiterated that it remains resolute in its commitment to restoring price stability for Canadians.

1 Year CAD vs Yen Chart

1 Year CAD vs Yen Chart

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1 Month CAD vs Yen Chart
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V: gb D: 20231003 08:18:25