Canadian banks report earnings amid economic uncertainty
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Royal Bank of Canada (RBC), Toronto-Dominion Bank (TD)
Canada
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Bank of Canada raises benchmark interest rate to 2.5% amid inflation concerns
The Bank of Canada raised its benchmark interest rate by 0.25 percentage points to 2.5%. The hike aims to prevent high energy prices from fueling generalized inflation. The bank revised its inflation and economic growth forecasts upward for the coming years.