Interest Rate Hike & The Big5

The Bank of Canada raised its key interest rate to 4.5 per cent, the first increase in more than a year, and said more rate hikes may be needed to dampen inflation.

Just for reference sakes, here's how the Big Five banks performed today:

+0.23% Bank of Nova Scotia

-0.01% CIBC

-0.39% Bank of Montreal

-0.43% Royal Bank of Canada

-0.70% TD Bank