The Bank of Canada has raised interest rates from 3.25 percent to 3.75 percent, in a bid to tackle inflation.
The Bank of Canada has raised interest rates once again.
The rate has jumped by 50 basis points to 3.75 percent.
Since March, the central bank has increased interest rates six times in order to tackle inflation.
According to its latest Monetary Policy Report, the bank predicts a potential recession in Canada during the first half of next year.
Inflation currently stands at 6.9 percent, which is well above the bank's two percent target.
The bank also says further rate hikes are expected.

PJHL Recap - Oct 31st to Nov 2nd
Nominations Open for Runway of Stars
Ultimate Burger Battle Begins!
Dodgers Beat Blue Jays in World Series
Impaired Driver Caught in Tillsonburg
Norfolk OPP Investigating Break-and-Enter
PJHL Preview - Oct. 31st to Nov. 2nd
BBBS Volunteers Honoured in London
Poppy Campaign Begins Today
Daylight Saving Time Ends on Sunday
Local Police Offer Halloween Safety Tips
UPDATE: Missing Teen Located
Men's Health Talk Coming to Woodstock
WPS Search for Robbery Suspect
Navy Vets Change Coaching Staff
Great Pumpkin Rescue Returns to Oxford
UPDATE: Missing Boy Found Safe
WFD Investigating Forest Fire
Trevor Birtch Trial Daily Recap - Case 2
GM Canada President Addresses CAMI Situation
Comments
Add a comment