As expected, the Bank of Canada announced it was raising the benchmark lending rate by 25 basis points to 0.75 percent. This is the second increase in the past two months and comes as the Canadian economy continues to recover from last year’s recovery. Bank of Canada Governor Mark Carney gave little indication of future interest rate plans, but some analysts suggest there could be another 25 basis point increase in the near future to bring the lending rate to an even 1 percent.
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