Bank of Canada Raises Rates 25 Bps as Gold Hits CAD$5,684
Gold reaches CAD$5,684 per ounce following a 25 basis point rate hike by the Bank of Canada and its economic growth outlook.
The gold price reached CAD$5,684 per ounce following a 25 basis point interest rate increase by the Bank of Canada, according to Kitco. Alongside the rate decision, the central bank projected that economic growth will slow down in the fourth quarter before experiencing a rebound by 2028.
Market Impact
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The central bank's policy tightening and growth projections influence domestic currency stability and bullion demand. Investors continue to monitor central bank actions across major economies as shifting monetary policy alters yield expectations and safe-haven demand.
Key facts
- Gold price stands at CAD$5,684 per ounce according to Kitco
- Bank of Canada implemented a 25 basis point rate increase
- Central bank sees economic growth slowing in the fourth quarter
- Growth is projected to rebound by 2028
Source: news.google.com
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