that the Bank of Canada would end its aggressive rate hike cycle, some in the industry are changing their tune, cautioning of possible further rate hikes on the horizon.from BMO Economics, Chief Economist Douglas Porter notes that although the Bank of Canada may be finished hiking its policy rate, “the market is now giving high odds to one more move.”
“It’s really going to be a balancing act,” Mercer said. “On the one hand, if you look at overall economic growth in Canada, that’s started to moderate, yet we’re still seeing firms bring on new employees.
The BoC did add a caveat that the Governing Council will increase rates further if necessary, but went on to say that “inflation is projected to come down significantly this year,” indicating a low likelihood of another hike.
Source: News Formal (newsformal.com)
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