Economy · 8 d ago
Bank of Canada - Banque du Canada from Canada · CC BY 2.0 · Wikimedia Commons
Bank of Canada now expected to raise its key rate this week
Market odds of a rate hike
78 % (nearly)
Financial market odds of a hike stood at nearly 78 per cent on Friday afternoon.
What we know
- Rate held at 2.25% for seven meetings
- Inflation hit 3.1% in September
- RBC expects a quarter-point hike
Not yet
- Hike now, or a set-up for Dec or Jan
Inflation reached 3.1 per cent in September, and the economy lost 68,000 jobs.
Governor Tiff Macklem warned that high energy prices will push up the inflation outlook. RBC economists say they have very low conviction on a hike this week.
