BOC Rate Hike Update

INDUSTRY NEWS

On October 24th, the Bank of Canada announced a benchmark interest rate hike by a quarter of a percent to 1.75%.

They believe that the economic outlook remains solid, with the newly created US-Mexico-Canada Agreement in place instilling confidence in investors. In their latest policy statement, the BOC says that “the Canadian economy continues to operate close to its potential and the composition of growth is more balanced”.
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