Bank of Canada hikes key rate by 50 basis points for second time in a row

The Bank of Canada hiked its benchmark rate again on Wednesday. (REUTERS/Blair Gable) The Bank of Canada raised its benchmark interest rate 50 basis points on Wednesday, the second consecutive outsized hike as the central bank tries to tame roaring inflation. The hike brings the policy interest rate to 1.5 per cent, a decision that…