Bank of Canada hikes interest rate to 0.5%

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The Bank of Canada has raised its benchmark interest rate to 0.5 per cent.

Social SharingMore small rate hikes expected as central bank tries to rein in inflationPete Evans · CBC News · Posted: Mar 02, 2022 10:04 AM ET | Last Updated: 10 minutes agoThe Bank of Canada slashed its benchmark interest rate when the pandemic began, but on Wednesday signalled that it will start to slowly raise it again to help rein in inflation. (David Kawai/Bloomberg)

The Bank of Canada has raised its benchmark interest rate to 0.5 per cent.

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