Source: Erica Alini, Global News, September 6, 2017
The Bank of Canada raised its key interest rate by another quarter of a percentage point, up to 1 per cent from 0.75 per cent, on Wednesday.
The decision, which follows a first hike in July, could be just the second in a string of rate increases to come, some economists predicted in light of the announcement.
The Bank’s two rate hikes this summer erase the two cuts it implemented in 2015 in response to the oil-price shock.
“Recent economic data have been stronger than expected, supporting the Bank’s view that growth in Canada is becoming more broadly-based and self-sustaining,” the central bank noted in a statement.
Image Source: Stephen Poloz, governor of the Bank of Canada, raised Canada’s key interest rate by another quarter of a percentage point, up to 1 per cent, on Wednesday, Sept. 6, 2017. / THE CANADIAN PRESS/Sean Kilpatrick
