April’s higher-than-expected inflation figures suggest further rate hikes by the Bank of Canada might not be out of the question, experts said on Tuesday.
, Statistics Canada reported Tuesday. The figure came in higher than the 4.1 per cent expectation from economists tracked by Bloomberg, and represents a rise from the 4.3 per cent rate reported in March.
He said the Bank of Canada may hold rates steady in its next monetary policy decision, but Tuesday’s inflation numbers and“I think it would be a neutral with the risk of a hawkish surprise,” he said. That means the central bank will need to stay aggressive to convince consumers and markets that “the bias is for interest rate increases," he said.
“Really making sure that consumers, businesses and the economy as a whole understands that the bias for interest rates is still to the upside, despite I think what many have interpreted as somewhat of an implied pause for both the Bank of Canada as well as the Fed.”
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