Rate hikes expected this week

The Bank of Canada is expected to announce another round of rate increases this week as it continues its efforts to counter inflation. The policy rate is expected to rise by 50 to 75 basis points, on top of increases this year amounting to three percentage points. Some economists anticipate that increases will begin to cool down thereafter. A Desjardins advisory last week said “we expect the accompanying statement or press conference to at least implicitly concede that future adjustments won’t be as large”.