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BoC adjusts Canadian GDP, inflation forecasts amid full-point hike

BNN: 'Alongside a surprising 100 basis point increase to its key policy rate, the Bank of Canada also adjusted its forecast for Canadian inflation and economic growth on Wednesday amid an ongoing surge in commodity prices and rising domestic housing costs.


'The Bank of Canada now expects Canada's gross domestic product for 2022 to come in at 3.5 per cent, down from a previous forecast of 4.25 per cent, and 1.75 per cent in 2023, down from 3.25 per cent.'

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