We’re in the money. On Tuesday, Canada became the first G-7 nation to take a small step out of the world’s recent credit crisis.
The Wall Street Journal reports that the Bank of Canada raised its interest benchmark overnight to 0.50%. That marks a 0.25% increase from Canada’s record low of 0.25%, which had held steady since April 2009.
The Journal also reports that any further increases will be contingent on continuity between both domestic and global economic circumstances. While Canada has remained relatively immune from the Europe spillover, the weakening euro has kept the global climate in an unpredictable state in recent months.