In April, Canada’s annual rate of inflation rose for the first time since last June, putting an increase back on the table.
The Bank of Canada is set to announce Wednesday morning whether it’s going to resume raising its key overnight lending rate.
Last March, the bank began an aggressive rate-hike campaign in a bid to drive inflation down, pushing its key overnight rate to 4.5 per cent from 0.25 per cent. But a steady stream of stronger than expected economic data — including rising inflation in April — have put an increase back on the table.
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