The Bank of Canada (BoC) recently increased its benchmark interest rate. The bank raised the rate by 25 basis points to 4.5%, its eighth consecutive increase, it also signalled it would put the hiking cycle on pause — at least for now. This decision was widely expected by economists and analysts, as the BoC has been signaling a gradual tightening of monetary policy in recent months. The central bank has been closely monitoring inflation, which has been running slightly above its... [read more]