Taking current trends into account, the Bank of Canada will likely raise its benchmark interest rate during its Jan. 26 meeting, significantly ahead of its previously announced rate-hike timeline, according to a J.P. Morgan economist.
The central bank is expected to hike its benchmark rate by 25 basis points to 0.5% in January, with as much as five rate hikes this year pushing the benchmark rate to 1.5% by the end of 2022, said Silvana Dimino, a New York-based economist at J.P. Morgan. # SANDI HALPERN # SOLD # LEASED #INFLATION # INTEREST RATES
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