Interest Rate Hike Expected This Week

Monday, 24 October 2022 13:16

By Linda Morgan

Experts say the Bank of Canada will raise interest rates on Wednesday.

The Bank of Canada is expected to announce another hike in interest rates on Wednesday.

RBC Senior Economist Nathan Janzen says the Bank could raise its key interest rate by half a percent or three quarters of a percentage point.

This would be the sixth consecutive rate hike this year.

The Bank has been raising interest rates in response to high levels of interest.

Experts are predicting a recession in Canada early next year.

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