In response to growing concerns about persistent inflation and strong economic growth, the Bank of Canada (BoC) has raised its key overnight benchmark rate to 4.75%, reaching its highest level in 22 years. The central bank had maintained the rate since January to assess the impact of previous hikes. Prior to this increase, borrowing costs…
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Bank of Canada seeks public input on digital currency plan
The Bank of Canada (BoC) is asking Canadians for their views on how a digital version of the national currency could look and function, as part of its research on the potential benefits and risks of issuing a digital Canadian dollar. The BoC launched a public consultation on Monday, inviting Canadians to share their opinions…