The Bank of Canada has raised its key interest rate to 3.25 percent.
The Bank of Canada has raised its key interest rate by three quarters of a percent.
The rate now sits at 3.25 percent.
The central bank says global inflation remains high, meaning rates will likely continue to rise for the time being.
Canada's year over year inflation rate was 7.6 percent in July, which is well above the bank's two percent target.
Today's announcement matches what was being predicted by many economists.
Man Charged in St. Catharines Murders
Police working to determine actions of the accused in days leading up to murders, asking for public assistance
Mandatory Alcohol Screening Coming: OPP
For every traffic stop, for speeding, distracted driving, anything
2 People Dead in St. Catharines Homicide
Police have one person in custody, after they were called to a house this morning
NRP Active in Solving Smithville Murder
Police understand community concern to find who is responsible
Man Dies in Welland House Fire
Emergency crews called to the David Street area, waiting for autopsy results
Welland Signs Deal for More Housing
It's a $35-million deal for LIV Communities to build up to 4,000 units, along canal
Drug Charges Laid After Police Chase
Toronto man arrested after caught in St. Catharines
Explaining Labour Shortage Complicated: CEO
Vivian Kinnaird says the pandemic isn't the only reason