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Bank of Canada raises its interest rate to 5%
(www.cbc.ca)
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this post was submitted on 12 Jul 2023
186 points (98.4% liked)
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Reminder that it's actually good to have an appreciable interest rate should a recession ever come. That was pretty sketchy during the '10s, if another big bank had gone belly up there would have been no way to juice the markets.
It super sucks if you have floating rate debt, though.