Canada Cuts, BoJ and Russia Hike as Other Cenbanks Dither in July

CENTRAL BANK - NEW YORK. The Bank of Japan hiked its key interest rate for just the second time since 2007 and the Bank of Canada cut rates for the second month in a row, while the U.S. Federal Reserve stayed put in July.

Among emerging economies, July saw Russia's central bank hike its benchmark rate by 200 basis points (bps) to the highest level in over two years, while Colombia's 50 bps cut was the largest last month, with China and Hungary also lowering rates.

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