Bank of Canada Raises Short-Term Rates

The Bank of Canada has raised short-term interest rates by 25 basis points.The bank said it expects that "further reduction of monetary stimulus will be required over time to keep inflation on target, with the pace depending on the bank's continuing assessment of the prospects for factors that affect pressures on capacity and, hence, inflation." The Bank of Canada can be found on the Web at http://www.bank-banque-canada.ca.