Bank of Canada raises interest rates for the first time in three years

The Bank of Canada increased its key interest rate by a quarter point to 2.5%, the first hike since July 2023, citing rising energy‑driven inflation. The move follows a September inflation rate of 3.2% and includes warnings that further increases may be needed to curb inflationary pressures.

Source: Bank of Canada raises interest rates for the first time in three years — Al Jazeera

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Topics: bankofcanada · interestrates · canadaeconomy · inflation · energycrisis · moneynews · costofliving