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The Bank of Canada surprised markets when it raised its key rate by a full percentage point in July, and National argues that the risk of another such hike this month is greater than many expect. With the rate now at 2.5%, a 50 bps hike would put it at the top end of the neutral range of 2% to 3%, while a 75 or 100 bps hike would put it over.Article content
“It would be an understatement to say that the BoC are deeply concerned with inflation. The ultra-hawkish rhetoric heard from the FOMC … reflects sentiment that is likely shared by the BoC,” wrote Schleich.This advertisement has not loaded yet, but your article continues below.National thinks the impact of that report will be marginal because the economy is still in excess demand, inflation is still too high and the labour market is still tight.
Sure, let’s make it even more expensive for young Canadians to get by. We’ll done BOC.
Poll: Is a 1% or more rate hike next? bankofcanada
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