Economists Predicting Another Interest Rate Hike Next Week

Friday, 20 January 2023 13:26

By Linda Morgan

Experts forecasting the central bank will raise the key interest rate by a quarter of a percent

The Bank of Canada is expected to raise interest rates on Wednesday, but economists say it will probably be the last rate hike for awhile.

Many commercial banks predict the central bank will increase its key interest rate by a quarter of a percentage point.

This would bring it to four and a half percent.

Desjardins economist Royce Mendes says the central bank will likely justify the rate hike by pointing to inflation and the labour market.

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