The dollar is up more than half-a-cent after the Bank of Canada announced a quarter-point boost in its benchmark interest rate.
As expected, the central bank hiked its rate to 0.75 per cent.
The first increase in nearly seven years follows a slew of positive economic reports.
It will lead to an increase in the costs of mortgages, home equity lines of credit and other loans linked to the big bank prime rates.
The dollar is up more than half-a-cent after the Bank of Canada announced a quarter-point boost in its benchmark interest rate.
As expected, the central bank hiked its rate to 0.75 per cent.
The first increase in nearly seven years follows a slew of positive economic reports.
It will lead to an increase in the costs of mortgages, home equity lines of credit and other loans linked to the big bank prime rates.