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BANK OF CANADA HIKES INTEREST RATE TO 2.5%, WARNS MORE INCREASES COULD FOLLOW
The Bank of Canada has raised its benchmark overnight rate by 25 basis points from 2.25% to 2.50%, its first interest-rate increase since July 2023. The central bank sharply increased its 2027 inflation forecast to 3.1% from 2.0% and warned that more rate increases could be necessary if elevated energy prices spread into broader inflation. Governor Tiff Macklem said policymakers would proceed carefully because economic uncertainty remains high.
BigV•1h ago•1 min read