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Bank of Canada hikes interest rate to 1.5%

BankofCanadaCP

The Bank of Canada raised its benchmark interest rate on Wednesday.

The rate hike was the central bank’s first interest rate move in six months and lifted the trend-setting rate to 1.5%, up from 1.25%.

It was the bank’s fourth increase over the last 12 months and the first time the rate has been this high since December.



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