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Bank of Canada raises interest rate again — but hints that hikes may be done for now

Boc Interest Rate Oct 2016

Central bank has been trying to wrestle sky-high inflation into submission. 

The Bank of Canada has raised its benchmark interest rate again, to 4.5 per cent.

The move was widely expected by economists as the bank tries to wrestle record-high inflation into submission.

It's the eighth time in less than a year that the bank has hiked its trend-setting rate, a move that will make borrowing money more expensive.

But at one quarter of a percentage point, it's also the smallest hike since March, and thus a sign that the bank may be done with hiking rates for the next little while. 

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Jon Nichols

Jon Nichols
CIR Realty
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CIR Realty
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