bank of canada gov tiff macklem recently signaled there would be no end to the central bank’s tightening campaign ottawa—the bank of canada raised its main interest rate on wednesday at a lighterthanexpected pace as the central bank said it expected close to zero growth starting late this year and through the first half of 2023 owing to lower household and business spending canada’s central bank increased its target for the overnight rate by a halfpercentage point from 325 to 375 the highest level in roughly 14 years threequarters of economists surveyed last week by the wall street journal expected the bank of canada to deliver a second straight 075percentagepoint rate increase citing elevated inflation and remarks from gov tiff macklem that signaled no end to the central bank’s aggressive tightening campaign