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Economy · Ottawa, Canada ·

Bank of Canada raises rate to 2.50%

Reported by 2 outlets · first reported Oct 28, 12:44 PM ET

The bank raised its rate a quarter point, its first rise since July 2023. It cited energy-driven inflation.

Why it matters

Canadian borrowers face higher costs.

Background

Oil prices rose because of the Iran war.

The story so far

  1. Bank of Canada raises rate to 2.50%
  2. Bank of Canada raises rate to 2.5%

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Sources

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