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2023-07-12 14:30:52
The announcement was dreaded, it is now official. The Bank of Canada increases its key rate by 0.25 percentage points, bringing it to 5%. This is the tenth increase in the key rate since its pandemic low of 0.25%.
“The Canadian economy was stronger than expected, as demand showed stronger momentum,” the Bank of Canada said in a statement, noting that “consumption growth was surprisingly strong, reaching 5.8% in the first trimester. »
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