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Crude oil storage tanks are seen at the Kinder Morgan terminal in Sherwood Park, near Edmonton, Alberta, Canada November 14, 2016. (CHRIS HELGREN/REUTERS)
Crude oil storage tanks are seen at the Kinder Morgan terminal in Sherwood Park, near Edmonton, Alberta, Canada November 14, 2016. (CHRIS HELGREN/REUTERS)

BoC rate hike adds to Western Canada’s economic woes Add to ...

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The Bank of Canada says the economy as a whole has adjusted to lower prices for crude, and the oil-price shock that began three years ago is largely complete.

However, Wednesday’s small-but-meaningful hike to the country’s key interest rate is still worrying for many in Western Canada, especially in oil-focused Alberta – where the ill effects of the downturn and the spectre of continuing oil price weakness lingers.

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Highlights from the Bank of Canada's rate hike announcement (The Globe and Mail)

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