Bank of Canada ends pause on hikes, raises policy rate by 25 basis points

The Bank of Canada raised its overnight rate by 25 basis points to 4.75 per cent on Wednesday, its first increase since pausing hikes in January.

The Bank of Canada raised its overnight rate by 25 basis points to 4.75 per cent on Wednesday, its first increase since pausing hikes in January. The central bank’s key interest rate has not been this high since April 2001.

This is a breaking news story. More information to come.

Original copy from The Canadian Press follows.

The Bank of Canada is set to announce its interest rate decision this morning as speculation about another rate hike heats up.