Bank of Canada hikes interest rates amid inflation fears
From CBC News.
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The Bank of Canada raised its interest rate to 2.5 per cent, its first hike since 2023. Governor Tiff Macklem says the move is aimed at preventing higher energy prices driven by the war in the Middle East from fuelling broader inflation. Mortgage broker Elan Weintraub shares how this rate hike will affect homeowners.
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For more than 80 years, CBC News has been the source Canadians turn to, to keep them informed about their communities, their country and their world. Through regional and national programming on multiple platforms, including CBC Television, CBC News Network, CBC Radio, CBCNews.ca, mobile and on-demand, CBC News and its internationally recognized team of award-winning journalists deliver the breaking stories, the issues, the analyses and the personalities that matter to Canadians.
