Breaking News! Bank of Canada raises rate again to 4.25%
The Bank of Canada raised its benchmark interest rate by 50 basis points on Wednesday, to 4.25 percent
It was widely expected that the BoC would be raising rates, either by 25 or 50 bps.
Canada's central bank has raised the rate seven times this year in its fight against inflation. In the process, the bank has taken its rate from close to zero to its highest point since 2008 — its fastest pace of rate hikes since inflation targeting began in the 1990s 👇
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