This is the best summary I could come up with:

The move was widely expected by economists and investors who follow the central bank, after a slew of data points in recent months — from GDP, to jobs, to inflation itself — painted a picture of an economy that was slowing down.

All things being equal, the central bank raises its rate when it wants to slow down an overheated economy, and cuts it when it wants to stimulate borrowing, spending and investment.

“In Canada, there is growing evidence that past interest rate increases are dampening economic activity and relieving price pressures,” the bank said.

“Governing Council is concerned that progress toward price stability is slow and inflationary risks have increased, and is prepared to raise the policy rate further if needed.”

In central bank-speak, that’s the bank saying that it is willing to raise borrowing rates by even more if it has to, but investors are betting the threat is most likely an empty one.

Trading in investments known as swaps imply there’s about a five per cent chance of a rate hike at the bank’s next policy meeting in December.

The original article contains 524 words, the summary contains 181 words. Saved 65%. I’m a bot and I’m open source!

There goes our dollar.