Bank of Canada boosts interest rate to 0.50%

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• Canada's central bank hikes its overnight rate by a quarter percentage point to 0.50% and keeps its holdings of Canadian government bonds roughly constant.
• The Russian invasion of Ukraine adds a "major new source of uncertainty" and will add to inflation around the world, the Bank of Canada said in its statement. "The situation remains fluid and we are following events closely."
• Bank Canada increased its Bank rate to 0.75% vs. 0.50% previously and the deposit rate at 0.5%, also up 25 basis points.
• iShares MCSI Canada ETF (EWC +1.1%) and Invesco CurrencyShares Canadian Dollar Trust ETF (FXC +0.5%) both rise in early morning trading.