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Canada Plans Rate Hikes to Combat Inflation | Markets & Money News
The Bank of Canada plans to increase the overnight rate by 25 basis points to 2.50% on October 28, 2023, in response to rising inflation, which hit 3.1% in September. This rate hike aims to address growing inflationary pressures amid challenging trade talks with the U.S. Recent surveys indicate significant concerns among businesses and consumers. Additionally, a poll shows that 56% of economists anticipate another hike by the end of March, highlighting the evolving economic landscape and the
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