Economists don't believe the Bank of Canada is ready to hit the brakes on its interest rate-hiking cycle just yet, even as signs grow that inflation is easing and the economy is softening.
After raising rates again in December, the Bank of Canada signalled it was open to pressing pause on its aggressive rate-hiking cycle, depending on upcoming economic data releases. For months, market-watchers have been trying to guess when the central bank would be ready to stop raising rates, with some expressing optimism that December's rate hike would be the last. However, this time, most forecasters seem to agree on a January hike, saying an increase next week would be the last increase of the cycle.
TD director of economics James Orlando said even if it intends to stop raising rates, the Bank of Canada can't appear to be backing off too much in its announcement next week. Yet up until now, economists say much of the decline in inflation has been caused by things outside of the Bank of Canada's control, such as lower energy prices.
Most people in Canada don't believe in anything getting better anytime soon. We will keep getting screwed by bankofcanada day in day out as greed has no limits, but hey keep funding Ukraine. That end is going quite well.