The Bank of Canada’s surprise decision to raise interest rates will bring about higher mortgage costs, according to experts.
Canada merchandise trade surplus increased to $1.9 billion in April, helped by higher exports of gold, oil and cars and light trucks, Statistics Canada said Wednesday.
A former Bank of Canada economist said the central bank’s surprise decision to hike interest rates may have been a communications strategy as well as a response to strong recent economic data.
The Bank of Canada’s decision to hike rates on Wednesday will put additional pressure on Canada’s already tight rental market, experts say.
The Bank of Canada raised its key interest rate target by a quarter of a percentage point to 4.75 per cent on Wednesday. Here is the text of the central bank's rate announcement.
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