Bank of Canada raises policy rate to 4.25%, raising interest rates seven times in a row

The Bank of Canada, the central bank of Canada, decided on the 7th to raise the policy rate by 0.5 percentage points to 4.25% to curb inflation.

This will be the seventh consecutive rate hike since March.

In Canada, consumer prices in October this year have risen by 6.9% compared to the same month of the previous year, continuing to rise at a high level.

Meanwhile, regarding the outlook for future rate hikes, the Bank of Canada said in a statement that it would consider whether further policy rate hikes were necessary to bring inflation back to target.

Among the world's major central banks, such as the Federal Reserve Board, the central bank of the United States, and the European Central Bank, there is a series of moves to continue to raise interest rates significantly to curb inflation.

However, there is a growing interest in the financial markets to see how far the world's major central banks will continue to raise interest rates, as a continuation of significant interest rate hikes could dampen the economy.