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Market Impact: 0.35
Savers get a raise as the Bank of Canada turns hawkish
Source: The Globe and Mail
Monetary PolicyInterest Rates & Yields
The Bank of Canada raised its policy rate by 25 basis points to 2.5% on Oct. 28, its first increase since 2023. The article notes that the hike benefits savers; it provides no broader market reaction or economic rationale.
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