Central bank issues gloomy outlook as it raises trend setting rate by 0.25%
July 20, 2010
The Bank of Canada has hiked its trendsetting interest rate a quarter point to 0.75 per cent, while issuing a more gloomy outlook for the economy and raising questions about where rates are headed next.
The second rate increase in as many months had been widely predicted by economists and markets, given Canada's strong first quarter advance and recent job creation record.
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