Interest Rates Increased by The Bank of Canada
Bank of Canada issued a press release stating they have increased overnight rate to 0.5% with Bank Rate at 0.75% and the deposit rate of 0.5%
The Bank of Canadaâs First Rate Hike Since 2018 Expected This Week
To combat the three-decade high inflation, the Bank of Canadaâs first rate hike since 2018 will increase by 25 basis points on March 2.