The Bank of Canada, the country's central bank, sets a target interest rate for overnight lending to banks that influences interest rates, including the prime rate, throughout the Canadian economy (Investopedia, Bank of Canada). The outcome will be determined using data as reported by the Bank of Canada (Bank of Canada - Policy Interest Rate). At its 7 December 2022 meeting, the Bank of Canada raised its policy interest rate target to 4.25% (Bank of Canada - 7 December 2022 Release, CBC). The question will close on the date of the announcement, rather than the date on which an increase would take effect.

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