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For more information click on | Canada Interest Rate Hikes – Early Q4 2023 Overview

Prime rate linked to overnight rate, affecting mortgages and loans.
Strong Canadian economic recovery, low unemployment, but high inflation.
BoC aims for gradual rate hikes to reach a neutral level (2.5% – 3.5%) but may need to go higher.
Economic growth, supply and demand, inflation expectations, and global central bank actions play vital roles.

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