Bank of Canada raises key rate to 1% to counter inflation

Bank of Canada raises key rate to 1% to counter inflation

Web Desk

13th Apr, 2022. 07:59 pm
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The Bank of Canada on Wednesday raised its key loaning rate from 0.5 percent to 1 percent, to battle against rising expansion that is currently figure to be almost six percent during the main portion of the year.

The bank said Russia’s attack of Ukraine was causing “new monetary vulnerability,” saying that “cost spikes in oil, gaseous petrol and different products are adding to expansion all over the planet.”

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