Bank of Canada interest rate hike

Canada's annual inflation rate dropped slightly in September to 6.9 per cent but the cost of groceries continues to climb. Economists expect another interest ...

Economists expect another interest rate hike in December before the central bank hits pause to assess the impact of higher interest rates on the economy. Today's rate hike would make it the sixth consecutive time the bank raises interest rates, making it the fastest monetary policy tightening in its history. Economists expect the central bank to raise its key rate by half or three-quarters of a percentage point as it tries to clamp down on decades-high inflation.