Bank of Canada poised to raise rates next week
Economists in a Reuters poll predict the Bank of Canada will raise its overnight rate by 25 basis points to 2.50 percent on October 28. The move aims to pre-empt rising inflation expectations following recent business surveys.
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Canada will raise its overnight rate by 25 bps to 2.50% on October 28, according to 56% of economists polled by Reuters. The expected move follows a rise in inflation to 3.1% in September and surging inflation expectations. The hike marks a shift for the central bank as it moves to pre-empt persistent price pressures ahead of next year.
