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Bank of Canada raises interest rate to 4.5 per cent, signals pause on hikes for now

January 25, 2023

Bank of Canada Governor Tiff Macklem announced on Wednesday an increase in interest rate of 25 basis points, to 4.5 per cent in the first policy decision in 2023. However, Macklem signalled the central bank could pause interest hikes for now while it assesses the impact of its increases to date.

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