INCREASE IN INTEREST RATES AN ABSOLUTE CERTANTY-BUT BY HOW MUCH?
Saturday May 28th, 2022
The Bank of Canada will likely hike its overnight rate by another 50 basis points on June 1, according to a unanimous prediction by economists in a recent Reuters poll.
This will build on a previous 0.5% upward adjustment in April, which was the central bank’s largest hike in 22 years. The consensus prediction was a stark departure from forecasts as recently as a month ago, which saw economists peg a 25-bp hike for June.