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

Comments | Print This | Subscribe | Email Us

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...