Bank of Canada raises key interest rate to 1.25% | CBC News
The Bank of Canada raised its key lending rate by a quarter percentage point to 1.25 per cent Wednesday, the third time it has moved its benchmark rate from once-record lows last summer. The bank’s rate has an impact on rates that Canadians get from retail banks for things like mortgages, savings accounts and GICs.
Bank of Canada raises interest rate to 1.25%, highest in almost a decade
The Bank of Canada had a window to raise interest rates and it opted to use it. Canada’s central bank raised its lending benchmark a quarter point to 1.25 per cent, an historically low setting that nonetheless will seem high to anyone who got used to post-crisis borrowing costs that were closer to zero.
