Posthaste: Why some economists aren't ruling out another 100 bps hike from the Bank of Canada

The Bank of Canada is cued up for another rate hike, but how far it will go has been the subject of much speculation

The Bank of Canada surprised markets when it raised its key rate by a full percentage point in July, and National argues that the risk of another such hike this month is greater than many expect.

While National expects a 75 bps hike tomorrow, its economists also think the odds of a 100 bps hike are greater than a 50. that the U.S. Federal Reserve would likely impose more large interest rate hikes in coming months raised the hawkish bar globally. “We’re not sure they’ll be patting themselves on the back over the GDP report, especially when you consider that StatCan’s recent business conditions survey didn’t signal much relief on the inflation/jobs backdrop,” wrote Schleich.While RBC also expects a 75 bps raise tomorrow, economists Nathan Janzen and Claire Fan write: “The bank’s commitment to front loading rate hikes in the face of red-hot inflation means an even bigger 100 bps increase … can’t be ruled out.

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calgaryherald /  🏆 64. in CA

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