All eyes are on the Bank of Canada this week

All eyes are on the Bank of Canada this week. The Bank of Canada is scheduled to announce interest rates on January 25. The Bank of Canada is expected to raise interest rates for the third time in a row.

The inflation rate in Canada reached 6.8% in December, which is the highest inflation rate in the last 30 years. This has put pressure on the Bank of Canada to raise interest rates to reduce inflation.

If the Bank of Canada raises interest rates, it could have a significant impact on the Canadian economy. An increase in interest rates can lead to a decrease in economic growth, an increase in the unemployment rate, and a decrease in the value of the Canadian dollar.

On the other hand, if the Bank of Canada does not raise interest rates, this could exacerbate inflation and create more problems for the Canadian economy.

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