The Bank of Canada will raise interest rates by a quarter-point for a second straight meeting to 5.00% on July 12 following a five-month pause earlier this year and then hold well into 2024, according to a majority of economists polled by Reuters.
No surprise here. The Bank of Canada has one tool and they will keep hitting everyone with it until they listen. They want to see something break before they stop. Fiscal policy is counter to monetary policy right now, which isn’t helping. I wouldn’t be shocked if we got one more increase by the end of fall.
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No surprise here. The Bank of Canada has one tool and they will keep hitting everyone with it until they listen. They want to see something break before they stop. Fiscal policy is counter to monetary policy right now, which isn’t helping. I wouldn’t be shocked if we got one more increase by the end of fall.