The Bank of Canada has hiked its key interest rate to 4.75% from 4.5%, with the Bank Rate at 5% and the deposit rate at 4.75%
In an update on Wednesday morning, the BoC said that though consumer price inflation is coming down globally, underlying inflation remains stubbornly high. "While economic growth around the world is softening in the face of higher interest rates, major central banks are signalling that interest rates may have to rise further to restore price stability," a
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