The Bank of Canada had long indicated that more aggressive action on interest rates was coming but surprised most observers with a 1% benchmark rate hike on Wednesday, a bigger move than markets expected!
The central bank said, with inflation remaining more persistent than it had envisaged in April and further hikes are imminent.
Inflation is likely to hover around 8% .
While expectations of an oversized hike had risen in the weeks leading up to the announcement, markets had largely been preparing for an increase of three-quarters of a basis point. # SANDI HALPERN # REAL ESTATE # SOLD # LEASED
