The Bank of Canada is expected to increase its benchmark interest rate by another 25 basis points today, though for the first time in nearly a year, a hike is not guaranteed. The central bank will announce its decision at 10 a.m. ET. Follow live updates:
that they are nearing the end of the rate-hike cycle. The key question for today is whether they’re ready to hit pause.
“If we are surprised on the upside, we are still prepared to be forceful,” deputy governor Sharon Kozicki said after the last rate hike in December. Economic data since December has come in stronger than expected, with particular strength in the labour market. Because the bank is intentionally trying to slow down the economy, this resilience through the final quarter of 2022 argues in favour of another hike.
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