Policymakers led by Governor Tiff Macklem increased the overnight lending rate on Wednesday by 25 basis points to 5%, the highest in 22 years. The move was expected by most economists in a Bloomberg survey, and markets had put the odds at around three quarters.
— Read on www.bloomberg.com/news/articles/2023-07-12/bank-of-canada-raises-rates-to-5-sees-inflation-lingering
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