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Bank of Canada hikes key interest rate by 25 basis points to 5 percent, highest since 2021

Bank of Canada hikes key interest rate by 25 basis points to 5 percent, highest since 2021

Jul 18, 2023, at 02:57 am

Ottawa/IBNS: The Bank of Canada has made the cost of borrowing more expensive by reportedly raising its policy interest rate for the 10th consecutive time, by 25 basis points amounting to 5 percent, the highest it’s been since 2001.

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