The Bank of Canada has decided to go with an increase of 75 basis points, taking the policy rate from 2.5% to 3.25%. This is the fifth increase so far this year.
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“Our sense is that at least one more rate hike will happen before the end of the year, that the increases will top out at 3.5% to 3.75% and that a soft landing will be tough, but not impossible, to pull off.”
