Home Economy What you should know about the Bank of Canada’s 1% hike
Economy

What you should know about the Bank of Canada’s 1% hike

by Stephanie Hughes
written by Stephanie Hughes

Watch: FP’s Stephanie Hughes explains what the increase could mean for the economy and your mortgage

Bank of Canada governor Tiff Macklem enters the central bank's offices in Ottawa. Macklem announced a 100-basis-point rate hike on Wednesday, surprising economists and consumers.
Bank of Canada governor Tiff Macklem enters the central bank’s offices in Ottawa. Macklem announced a 100-basis-point rate hike on Wednesday, surprising economists and consumers. Photo by Blair Gable/Reuters

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