SLIDESHOW: HOW MUCH DOES IT COST TO BE A FIFTH GRADER?
How Much Does it Cost to Be... a Fifth Grader
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The countdown to an interest rate hike is on. Expectations of a rate rise grew even stronger Friday after official figures showed that the cost of living is rising faster than it should be.
The surprising news caused the Canadian dollar to jump above US99 cents as investors began to bet that an interest rate rise is close at hand. With the way the Canadian economy is going, it looks like U.S. dollar parity is inevitable.
The Bank of Canada has previously promised it would keep the key interest rate on hold at the record low level of 0.25% until at least the end of June, but the promise came with a 'Get Out of Jail Free' card that basically says it can raise rates sooner if inflation, or the rising cost of living, becomes a problem.