Brace for more big hikes because Bank of Canada is far from finished — via financialpost Canada Economy inflation
by half a percentage point on April 13, an aggressive move, as central banks prefer to move in quarter-point increments.
The outsized increase in borrowing costs, which took the benchmark interest rate to one per cent, was widely anticipated; Less anticipated, perhaps, was the extent to which the economy is straining on the central bank’s reins. The Bank of Canada’ssees gross domestic product increasing at an annual rate of six per cent in the second quarter, which is a rate of growth you would expect in the earliest days of a recovery, not at the point at which the recovery is over and the jobless rate is at a modern low.
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