The Bank of Canada raised its key lending rate by 100 basis points this morning, bringing it to 2.50%.

As expected, the Bank of Canada has raised its key lending rate by 50 basis points, bringing it to 1.50%. In its statement accompanying the decision, the Bank said, “the risk of elevated inflation becoming entrenched has risen” and that it is “prepared to act more forcefully if needed” to achieve its 2% inflation target.

As expected, the Bank of Canada has raised its key lending rate by 50 basis points, bringing it to 1.50%. In its statement accompanying the decision, the Bank said, “the risk of elevated inflation becoming entrenched has risen” and that it is “prepared to act more forcefully if needed” to achieve its 2% inflation target.

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Bank of Canada Raises Rate by 50 bps The Bank of Canada has just raised its key lending rate by 50 basis points, bringing it to 1.00%. This marks the second change to the Bank's overnight target rate this year and the first 50-bps rate hike since 2000. In its...