Bank of Canada open to hiking interest rates past 3% in bid to bridle inflation

OTTAWA – The Bank of Canada may need to raise its key interest rate to three per cent or beyond – more than double its current level – to ensure inflation doesn’t settle in for the long haul, its deputy governor says. “We’re scared that this inflation becomes entrenched,” Paul Beaudry told reporters Thursday afternoon, while assuring Canadians the … Continue reading Bank of Canada open to hiking interest rates past 3% in bid to bridle inflation