Bank of Canada raises the key interest rate by one-half of a percentage point (0.50%), bringing it to 4.25%
The Bank of Canada has raised its policy rate to 4.25% today, stating borrowing costs need to rise to bring inflation back to target of 2% from the current rate of 6.9%. This marks the seventh consecutive rate increase in 2022. “We’re expecting roughly zero growth (in the Canadian economy) for the next several quarters…
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