Bank of Canada Expected to Jack up Interest Rates as Inflation Persists

Bank of Canada Expected to Jack up Interest Rates as Inflation Persists
The Bank of Canada in Ottawa on July 14, 2021. The Canadian Press/Sean Kilpatrick
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Experts predict the Bank of Canada will likely announce another major interest rate boost Wednesday as it tries to rein in runaway inflation.

After keeping its key interest rate near zero since March 2020, the central bank unveiled a pair of rate hikes in March and April — the second was by half a percentage point, the largest in 22 years.