The Bank of Canada has held its policy rate at 2.25 percent through seven consecutive decisions this year, with its next scheduled announcement not due until October 28. The Federal Reserve moved the opposite way on September 16, raising its target range to 3.75 to 4.00 percent on a unanimous vote, its first hike since 2023. That widened the gap between the two policy rates to 150 basis points, the largest split of the year, arriving as Canadian inflation held at 3.0 percent.
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