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The Bank of Canada on Wednesday held its key overnight interest rate at 5%, noting the economy had entered a period of weaker growth, but said it could raise borrowing costs again should inflationary pressures persist. The central bank hiked rates by a quarter point in both June and July in a bid to tame stubbornly high inflation, which has remained above the bank's 2% target for 27 months. Canada's gross domestic product unexpectedly shrank an annualized 0.
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