The Bank of Canada raised its benchmark interest rate by 50 basis points, to 4.25 per cent.
Central bank has raised policy rate 7 times this year in battle against inflation
The Bank of Canada raised its benchmark interest rate by 50 basis points, to 4.25 per cent.
The move was widely expected by economists, who were anticipating a rate hike of either 25 or 50 points.
Canada's central bank has raised its rate seven times this year in its fight to wrestle inflation into submission.
More to come.
ABOUT THE AUTHOR
Pete Evans is the senior business writer for CBCNews.ca. Prior to coming to the CBC, his work has appeared in the Globe & Mail, the Financial Post, the Toronto Star, and Canadian Business Magazine. Twitter: @p_evans Email: pete.evans@cbc.ca
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