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The Bank of Canada raises benchmark interest rate to 1% as the Canadian dollar rises!

The Bank of Canada raised its benchmark interest rate by a quarter of a point to one percent on Wednesday.

It’s the second time this year that the central bank has upped the rate, after hiking it for the first time in seven years in July.

The central bank’s rate has an impact on lending rates that consumers and savers get from banks on mortgages, lines of credit, savings accounts and other financial vehicles.

To read the complete article click here.