Bank of Canada expected to announce 6th interest rate hike of the year | LIVE

Governor of the Bank of Canada Tiff Macklem and Senior Deputy Governor Carolyn Rogers are expected to hold a press conference Wednesday after the decision to raise interest rates for the 6th time this year.

Economists expect the central bank to raise its key rate by half or three-quarters of a percentage point as it tries to clamp down on decades-high inflation.

Canada’s annual inflation rate dropped slightly in September to 6.9 per cent but the cost of groceries continues to climb.

The Bank of Canada will also release its latest monetary policy report, which will include economic projections and its outlook on inflation.

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