Central bank hikes rates
Posted Jul 20, 2010 8:31 am.
This article is more than 5 years old.
The Bank of Canada has boosted its key lending rate by a quarter of a point.
Derek Burleton with TD Financial tells 660News Canada is the only G7 nation that has been hiking rates, because our economy is growing.
“It really does reflect the fact that the Canadian economy is fundamentally healthier,” he says.
Burleton believes another rate hike is in the cards for September, but after that the Bank of Canada will adopt a monitor and react approach to the changing economic conditions.
The central bank’s key lending rate now stands at 0.75 per cent.
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