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Benzinga
Benzinga
World
Melanie Schaffer

Canadians Wake Up To A Jolt After Bank Of Canada Hikes Rates 1% Overnight: Will The US Follow Suit?

Bank of Canada United States Canada Inflation central bank Interest Rates

The S&P TSX Composite Index (TSX:TSX) was slammed on Wednesday, dropping to its lowest point since March 8, 2021 to bounce up off the $18,378.83.

The Bank of Canada hiked the key interest rate by a full percentage point to combat soaring inflation. The country’s benchmark interest rate now comes in at 2.5%, an increase of 2.25% since the start of 2022.

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