The Bank of Canada's decision to raise interest rates may have a short-term impact on the iShares MSCI Canada ETF (EWC) as it reflects the performance of the Canadian market. However, the extent of the impact will depend on how the market reacts to the rate hike and other factors influencing the Canadian economy.

The Bank of Canada's decision to raise interest rates may have a limited impact on the SPDR S&P 500 ETF (SPY) in the short term, as the ETF primarily tracks the performance of the US market. However, any potential spillover effects from the Canadian economy or changes in global market sentiment could influence the ETF's performance.