The Canadian Press</span>
Published Wednesday, January 17, 2018 4:26AM EST
Last Updated Wednesday, January 17, 2018 10:08AM EST
OTTAWA -- The Bank of Canada is raising its key interest rate target by a quarter of a percentage point.
The central bank's target for the overnight rate now sits at 1.25 per cent.
The change is expected to prompt Canada's large banks to raise their prime lending rates, a move that will drive up the cost of variable-rate mortgages and other variable-interest rate loans.
Click here to read the bank's rate announcement.
More to come...
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