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THE BANK OF CANADA INCREASES OVERNIGHT RATE

Posted on Mar 02, 2022

The Bank of Canada increased it's key interest rate to 0.5% in an effort to tapper down the economy and control the surging inflation. However, economists are warning that high prices will remain a regular part of life for months to come. The overnight rate target will rise 25 basis points, up from the 0.25 percent it held for much of the pandemic...

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