Bank of Canada Raises Interest Rates
Interest Rate Hike Announced
The Bank of Canada announced today that it is raising its target for the overnight rate to 4¼ with the Bank. This is the fourth interest rate hike this year, and it brings the key policy rate to its highest level since 2008.
Rate Hike Data
- July 12: 5%
- June 7: 4.75%
- March 2: 1.5%
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