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Bank of Canada raises interest rate, first hike since July 2023 The Bank of Canada has hiked its overnight rate by a quarter per cent, the first time for an increase since 2023. FULL STORY: https://www.ctvnews.ca/business/inflation/article/bank-of-canada-raises-key-interest-rate-says-another-hike-possible/
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Bank of Canada raises interest rate, first hike since July 2023 The Bank of Canada has hiked its overnight rate by a quarter per cent, the first time for an increase since 2023. FULL STORY: https://www.ctvnews.ca/business/inflation/article/bank-of-canada-raises-key-interest-rate-says-another-hike-possible/
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The Federal Reserve just raised interest rates for the first time since 2023, and they hinted at 1 more rate hike possibly this year. How does that change your money? Here are 4 ways: 1️⃣ Your credit card, HELOCs, and adjustable rate loans are tied to the prime rate, and they are going to get more expensive within 1-2 cycles. If you carry a credit card balance, paying it down now is the best guaranteed return you can get. 2️⃣ your high yield savings should earn more if your bank passes the rate
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