Bank of Canada raises key rate to 1% and warns further hikes still to come

OTTAWA – The Bank of Canada raised its key interest rate by the highest amount in more than 20 years and warned more rate hikes are coming as it increased its outlook for inflation. The central bank hiked its policy interest rate by half a percentage point to one per cent on Wednesday. Bank of Canada governor Tiff Macklem said inflation is too high … Continue reading Bank of Canada raises key rate to 1% and warns further hikes still to come