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Canada central bank hikes key lending rate 50 basis points to 4.25%
Canada central bank hikes key lending rate 50 basis points to 4.25%
Business and Economy
by  AFP

Canada's central bank on Wednesday hiked its key lending rate by 50 basis points to 4.25 percent, saying its aggressive moves to rein in inflation were working but that the economy was still too hot. The bank will need to assess whether its seven rate hikes this year have slowed demand as hoped, how supply challenges are resolving, and whether all of this is impacting inflation.