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Bank of Canada Expected to Increase Interest Rates Next Week

Friday, 2 December 2022 at 17:17

By Linda Morgan

Economists predicting a jump of either a quarter or a half percentage point.

The Bank of Canada is expected to increase interest rates again next week. 

Forecasters say the central bank will increase its key interest rate by either a quarter or half a percentage point.

The rate currently sits at 3.75 percent. 

So far this year, the Bank has raised interest rates six times in order to fight back against inflation. 

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