Editorial: Rate hike a harbinger of higher borrowing costs

This week’s move by the Bank of Canada to raise its key interest rate a quarter of a percentage point to 0.75 per cent from 0.50 per cent was not unexpected. In advance of the increase, economists gave it a 90-per-cent probability.
For many Canadians, an interest-rate increase of a quarter point is unlikely to change their financial circumstances. But in Vancouver, where homeowners carry the biggest mortgages in the country, any increase in interest rates merits attention.
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