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FCC chief economist: Agriculture can handle this interest rate hike

from Farm Credit Canada

After record farm income in 2016, agriculture is well positioned to handle the modest interest rate hike announced recently ... and even the one after that, expected this fall. The quarter per cent hike, to 0.75 per cent, marks the first interest rate jump by the Bank of Canada in seven years. Chartered banks responded by increasing their prime rate to 2.95 per cent. More jumps in the Bank of Canada rates are expected in October and perhaps in early 2018. more


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