Bank of Canada hikes interest rate by 50 basis points to close out 2022 - Perch

The Bank of Canada announced its 7th straight rate hike on Wednesday, December 7th, pushing the key interest rate up half a percentage point from 3.75% to 4.25%. This is the highest the interest rate has been since 2008. Economists are predicting this will be the last interest rate hike for the Bank of Canada in the near term.

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