This takes Canadian interest rates to 2.5%.
This makes Canadian interest rates higher than American interest rates, which stand at 1.75%.
The Loonie rallied against the US dollar, which is almost certainly what the Bank of Canada wanted - when the Canadian dollar gets too low against the US dollar, Canada imports inflation from the US.
With central banks raising interest rates all over the world, I don't see how inflation won't come down.
Two very big central bak, the ECB and the Bank of Japan haven't started raising rates and are still doing QE.
I think inflation is still low in Japan, but I don't see how the ECB can get away with not raising interest rates.
I think the ECB will raise rates this week - from negative to zero.
So you were right - the ECB raised rates. The market wasn't impressed though!
It's hard to be impressed with 0% interest rates.