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Are we done with rate hikes? Here's what the Bank of Canada has to say
video As the Bank of Canada once again hiked interest rates in its fight to tame inflation, it remains unclear when a future pause might come. On Wednesday, the bank hiked the overnight interest rate by 25 basis points, bringing it to 5.00 per cent, while also extending the projected timeline to bring Canada’s inflation rate down to the two per cent target into the middle of 2025. “Even as headline inflation has come down largely as we forecast, underlying inflationary pressures are proving more persistent than we expected,” Bank of Canada Governor Tiff Macklem said in prepared remarks on Wednesday. “Higher ... (full story)