Bank of Canada raises the rate, here’s what...

On Wednesday, the Bank of Canada announced it was hiking its interest rate to 1.25 per cent, up fron one per cent. This is the third increase since last summer, and the central bank noted some key factors in determining this. While the central bank signalled more rate increases are likely over time, it highlighted the growing, negative impacts related to the unknown outcome of the renegotiation of the North American Free Trade Agreement. Moving forward, the bank said “some continued monetary policy accommodation will likely be needed” to keep the economy operating close to its full potential. The bank said it would also remain cautious…