Economists don't believe the Bank of Canada is ready to hit the brakes on its interest rate-hiking cycle just yet, even as signs grow that inflation is easing and the economy is softening.
Economists don't believe the Bank of Canada is ready to hit the brakes on its interest rate-hiking cycle just yet, even as signs grow that inflation is easing and the economy is softening.
After raising rates again in December, the Bank of Canada signalled it was open to pressing pause on its aggressive rate-hiking cycle, depending on upcoming economic data releases. For months, market-watchers have been trying to guess when the central bank would be ready to stop raising rates, with some expressing optimism that December's rate hike would be the last. However, this time, most forecasters seem to agree on a January hike, saying an increase next week would be the last increase of the cycle.
TD director of economics James Orlando said even if it intends to stop raising rates, the Bank of Canada can't appear to be backing off too much in its announcement next week. Yet up until now, economists say much of the decline in inflation has been caused by things outside of the Bank of Canada's control, such as lower energy prices.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Morning Update: Inflation rate eases as Bank of Canada considers new rate hikeEconomic outlook improves as gas prices drop sharply, supply-chain disruptions lessen
Read more »
Grocer code of conduct likely won’t lower food costs for Canadians, say economistsAs public suspicion of profiteering by grocers mounts, the federal government has promised a new grocery code of conduct. But most experts in food economics say it’s unlikely to help Canadians with their grocery bills.
Read more »
Zellers reveals locations for 2023 reboot, including 3 in and around VancouverOne of Canada's most iconic stores is almost ready for its comeback!
Read more »
Zellers reveals locations for 2023 reboot, including 3 in and around VancouverOne of Canada's most iconic stores is almost ready for its comeback!
Read more »
U.S. Fed approves BMO's US$16.3B Bank of the West takeover - BNN BloombergBank of Montreal has received approval from the the Federal Reserve to acquire San Francisco-based Bank of the West, a combination that will create the 15th-largest U.S. lender.
Read more »
Canada to give Ukraine 200 more armoured vehiclesDefence Minister Anita Anand made the announcement Wednesday during a visit to Kyiv
Read more »