Bank of Canada raises interest rates

The Bank of Canada announced on Tuesday 18 October that it is raising its main interest rate by 0.25% to 3%. The Bank noted there have been significant movements in energy prices and the Canadian dollar has traded in a higher range against the U.S. dollar and other major currencies.

The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 3 1/4 per cent.

The global and Canadian economies have continued to grow at a solid pace. At the same time, there have

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