The text of the Bank of Canada’s latest interest rate decision

News Snapshot:

OTTAWA — The Bank of Canada raised its key interest rate target by a quarter of a percentage point to five per cent Wednesday. Here is the text of the central bank's decision: The Bank of Canada today increased its target for the overnight rate to five per cent, with the Bank Rate at 5.25 per cent and the deposit rate at five per cent. The Bank is also continuing its policy of quantitative tightening. Global inflation is easing, with lower energy prices and a decline in goods price inflation. However, robust demand and tight labour markets are causing persistent...