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.
“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.”
