Bank of Canada raises policy rate by 25 basis points

OTTAWA, June 7 (Xinhua) -- The Bank of Canada on Wednesday resumed tightening and increased its benchmark interest rate by 25 basis points to 4.75 percent.

The bank's governing council decided to increase the policy rate again, reflecting its view that monetary policy was not sufficiently restrictive to bring supply and demand back into balance and return inflation sustainably to the 2 percent target, the centra