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Bank of Canada expected to announce another interest rate hike

Source: Nojoud Al Mallees The Canadian Press, October 25, 2022

Wednesday’s announcement would make it the sixth consecutive time the Bank of Canada raises interest rates this year.

Even as warnings about a potential recession grow louder, the Bank of Canada is expected to announce another hefty interest rate hike on Wednesday, edging the bank closer to the end of one of the fastest monetary policy tightening cycles in its history.

RBC senior economist Nathan Janzen says it’s a coin toss between the Bank of Canada choosing to raise its key interest rate by half a percentage point or three-quarters of a percentage point, though RBC is leaning toward the smaller increase.

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