The Bank of Canada raised interest rates to 0.5%, a 25-basis-point uptick that marked the first time that rates were increased by the nation’s central bank since 2018.
What Happened: In a statement, the Bank of Canada observed the nation’s economic growth in the fourth quarter of 2021 was at 6.7%, which it defined as “stronger than the Bank’s projection and confirms its view that economic slack has been absorbed.”
