Bank of Canada raises rates to 3.75%

The Bank of Canada announced Tuesday that it is raising its target for the overnight rate by one-quarter of one percentage point to 3 3/4 per cent.

The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 4 per cent.

Information on the Canadian and global economies received since the January Monetary Policy Report Update has been broadly in line with the Bank's expectations, although the Canadian dollar has recently moved above the range that had been

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