Bank of Canada governor says rate hike to 2.5% was needed in face of persistent inflation

<img src='https://i.cbc.ca/ais/a8f6fedd-8561-465b-b2de-d1abc4dc88d3,1793117732289/full/max/0/default.jpg?im=Crop%2Crect%3D%280%2C724%2C8192%2C4608%29%3B' alt='A glass building with a concrete triangle jutting out in front of it are seen on a street corner.' width='620' height='349' title='The pyramid-shaped glass entrance to the Bank of Canada Museum, with the Bank of Canada building behind it, in Ottawa, Ontario, Canada, Aug. 14, 2026.'/><p></p>