What the latest Bank of Canada rate hike means for inflation, consumers

The Bank of Canada hiked its key policy rate by half a percentage point to

December 7, 2022

The Bank of Canada hiked its key policy rate by half a percentage point to 4.25 per cent -- the highest it's been since January 2008 -- on Wednesday in its final rate decision of a year that has been marked by stubbornly high inflation and rapidly increasing interest rates.