The Bank of Canada is widely expected on Wednesday to raise its benchmark overnight interest rate by a quarter of a percentage point in response to solid economic growth and a new trade pact with the U.S. and Mexico.

Economists from 10 out of 11 primary dealers of Canadian government securities told The Wall Street Journal they anticipate the Bank of Canada will increase the key rate to 1.75% on Wednesday, up from the current level of 1.50% and marking the fourth increase since mid-2017.

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