Dollars and SenseNationalNews
Bank of Canada Hikes Key Interest Rate. Again.
Source: Craig Lord Global News, July 13, 2022
The central bank said the largest drivers of global inflation are the Russian invasion of Ukraine and ongoing supply disruptions, leading to higher global energy and food prices.
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.
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