Bank of Canada likely ready to start hiking interest rates again

That wasn’t supposed to happen. At the end of last year, most economists said the country would likely be in the middle of a technical recession by now.

Central banks around the world are facing similar challenges. On Tuesday, the Reserve Bank of Australia unexpectedly raised its key interest rate, a move that was expected by only a third of economists.Article content During the U.S. regional bank crisis in March, it looked as though Macklem and his officials had got it right in hitting pause — they had brought Canada to an adequate terminal point without a hard landing for the economy, and inflation was decelerating. The financial turmoil led many to expect that the United States Federal Reserve wouldn’t hike much further, reducing concerns about rate divergence and imported inflation.

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