Bank of Canada sounds more cautious about its willingness to higher interest rates – CIBC

On Wednesday, the Bank of Canada raised its key interest rate by 50 bases points to 4.25%, in line with market consensus. Analysts at CIBC, point out the BoC sounded more cautious. They see the central bank plateauing at the 4.25% level. “The Bank of Canada flashed a yellow card on its rate hiking team by sounding more cautious about its willingness to press on to even higher interest rates in 2023, even as it tightened today.

“We expect to see enough further evidence that demand growth is slowing to keep the Bank on hold in Q1, but even then, the Bank might want to leave the door ajar for a later hike by retaining the wording it used today.

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