Tuesday, June 1, 2010
The age of free money has come to an end – in Canada, at least.
Interest rates head north in Canada
The Bank of Canada raised its overnight rate by a quarter-point Tuesday to 0.5%. It has become the first central bank in the Group of Seven rich industrial countries to tighten policy since the financial meltdown of 2008-2009.
Posted by mark @ 08:55 PM (1353 views)
4 thoughts on “The age of free money has come to an end – in Canada, at least.”
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fallingbuzzard says:
No surprise but interesting if it means that global coordination has ended.
drewster says:
From 0.25% to 0.5%…. that doesn’t even count. Australia has already raised rates to 4.5%. That’s more like it!
markj69 str05 says:
Hmmm. I wonder what BoE will decide to do over the next few months to stem CPI, RPI and HPI?
Latest inflation graph – http://www.statistics.gov.uk/cci/nugget.asp?id=19
I still don’t know why they’re gifting potential revenue back to the majorities. A couple of 25pt rises should pull the reins in with out too much damage, I’d have thought.
David47 says:
It is not a great rise in interest rates but it shows that Canada is not afraid of a double-dip recession and of course Australia has been raising rates for a while.
With the new money supply figures from the euro zone and the UK being somewhat disappointing it may well be a while before we follow…