Canada – The Central Bank of Canada has hiked its key interest rate by one percentage point which makes the new interest rate to figuring 2.5 percent. It is pertinent to mention here, it is the largest increase in Canada during last 24 years.
The latest hike in interest rate indicates, Canada can take more aggressive steps to tackle inflation. This will make groceries , vacation and other buyings dearer. The recent 2.5 perecent hike would impact spendings, loans and mortages.
Experts view, Canada has become first G7 country to make such an aggressive increase in its key interest rate in this economic circle.
