“The Bank of Canada un-paused today, after having “paused” following the January hike. The pause had been widely ballyhooed as the end of the rate hikes and a pivot toward rate cuts. Those hopes have now been bitterly disappointed. Everyone is figuring out that this inflation isn’t just fading away on its own. Today it hiked its policy rates again by 25 basis points, bringing its overnight rate to 4.75%, the highest in 22 years, in a move that surprised a lot of observers.” Wolf Richter,The Bank of Canada Un-Pauses, Hikes 25 Basis Points, Second Central Bank to Un-Pause on Resurging Inflation Fears, 7.6.2023