The central bank's hike to its benchmark overnight rate on Wednesday brought the key policy rate to 4.5% From alicjawithaj
, found that 57 per cent of Canadians agree that the central bank should pause raising rates for a few months so that the impact of the hikes can be fully assessed. Another 28 per cent say the bank should change course and cut rates, while 15 per cent say it should continue raising rates until inflation is brought down further.
"If we start to see an accumulation of evidence that inflation is not coming down in line with our forecast, we're prepared to raise interest rates further," Macklem said. "While the majority of Canadians not unexpectedly agreed with the Bank of Canada's pause on further rate hikes until an evaluation of the cumulative impact has happened, they also don't believe that rates won't rise again," Maru executive vice-president John Wright said.
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