INFLATION AT 6.7% TRANSLATES INTO INTEREST RATE INCREASE!
Thursday Apr 21st, 2022
With the 6.7% annual inflation rate in March surging far beyond experts’ predictions, the likelihood of another large hike in the Bank of Canada’s next interest rate announcement has increased, according to Andrew Grantham of CIBC Capital Markets.
“Inflation continues to run well ahead of expectations from earlier in the year, linked not just to commodity price spikes but also to stronger underlying price pressures as well,” Grantham said.
“The upside surprise is likely to bring another non-standard 50-basis point hike from the Bank of Canada at its next meeting.”# SANDI HALPERN # SOLD # LEASED # INFLATION # INTEREST RATE INCREASE