Bank of Canada hikes key interest rate by full percentage point in surprise move

By News on the Net -- Global News—— Bio and Archives--July 15, 2022

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The Bank of Canada has increased its benchmark interest rate by a full percentage point, taking a larger than expected hike to tame decades-high levels of inflation. The central bank’s key interest rate now sits at 2.5 per cent, a drastic shift from the 0.25 per cent rate seen at the start of the year.-- More...

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