Inflation has at last dipped below 3%, a move that brings inflation within the Bank of Canada's established long-term target range of 1-3%. Despite this, the Bank of Canada has chosen to persist with its policy of quantitative tightening, maintaining the overnight rate at 5%, Bank Rate at 5¼% and the deposit rate at 5%.

The Federal Reserve has opted to maintain the federal funds rate's target range at 5.25% to 5.5%.

The Bank of Canada maintains its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%.

In its recent release, the Federal Reserve has decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent.

In a pivotal decision today, the Bank of Canada has maintained its overnight rate target at 5%, indicating a steady course amidst moderating inflation.

Federal Reserve's latest update: Economic activity rises in Q3 while inflation stays elevated. Interest rates remain steady at 5-1/4 to 5-1/2 percent. Insights on job gains, banking system health, and future monetary policy.