A resurgence in inflation has markets eyeing interest rate hikes again and one economist says the Bank of Canada should act soon. Read on.
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The Bank of Canada has raised its benchmark rate to 4.5 per cent from 0.5 per cent over the past year in a bid to bring inflation that surged to a four-decade high back to earth. Holt, known on Bay Street as a vocal critic of the central bank’s decision to not move rates sooner last year, said there are a few pressing arguments to be made in favour of Bank of Canada governor Tiff Macklem raising rates at the June 7 meeting. Among them is the bogeyman of inflation expectations.
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