11 July
Bank of Canada has to increase the rates for reducing inflation
Governor of the Bank of Canada Tiff Macklem declared the need to increase the credit rates to lessen inflation and reduce the people’s expenditures.
Macklem noted in his declaration that this step will tame rising inflation. According to the governor, the economy needs time to restore, that’s why it is necessary to provide Canadians with an opportunity to plan their spending and saving.
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