Bank of Canada hikes rates for first time since 2018

[BNN - March 2, 2022] OTTAWA -  The Bank of Canada raised its overnight lending rate by 25 basis points to 0.50 per cent on Wednesday, marking the first time the central bank has tightened monetary policy since 2018, while highlighting how Russia's attack on Ukraine could weigh on global growth and lift commodity prices further. The central bank cited strong recent economic growth in Canada, resilient household spending despite the surge of the Omicron COVID-19 variant and inflation figures that are "well above" the [...]