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Lending rates to see another significant hike next month

You can expect interest rates to rise again next month.

Financial analysts say the Bank of Canada is expected to match yesterday’s (Wednesday) decision by the Federal Reserve in the U-S to hike its rate by three-quarters of a percentage point.

That’s the largest increase in almost 30 years.

Our central bank has already increased its trend-setting rate by 1.5 percent this year.

Further increases will mean higher borrowing costs for things like mortgages and lines of credit.

with files from Vista Radio Newswire

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