News > Bank of Canada raises interest rate to 0.50% in the first hike since 2018

Bank of Canada raises interest rate to 0.50% in the first hike since 2018

Article content The post-pandemic burst of inflation is what most concerns the Bank of Canada, at least for now. Statistics Canada reported on March 1 that the economy grew at an annual rate of 6.7 per cent.

Faster than the central bank had forecast, suggesting demand will continue to test companies' ability to keep up with orders, a recipe for further inflationary pressure. "Overall, first-quarter growth is now looking more solid than previously projected."