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Bank of Canada Lays Ground for More Rate Hikes

  • Decision reinforces expectations for increase at July meeting
  • Central bank removes language about being cautious on policy
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Bank of Canada's Poloz Says Businesses Are 'Getting On' With Investing

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Canada’s central bank is paving the way for a new round of rate increases in the second half of the year as the nation’s economy runs up against capacity constraints and inflation hovers at the highest in seven years.

Bank of Canada Governor Stephen Poloz left rates on hold for a third straight decision Wednesday, but gave an upbeat assessment of the economy and removed some cautious language. The currency and bond yields popped higher after the statement from Ottawa.