Bank of Canada Increases Rate .25% – What Can We Expect in the Future?
Ralph Shell submits:
Today’s increase of the bank rate by the Bank of Canada by .25% was according to the anticipated script, and for the most part, a non event for the market. The Bank implies that further increases in the rate are not assured because economic growth projections have been scaled back by 0.2% of GDP both this and next year. A weaker global economic recovery, with only modest domestic consumer growth, is cited by the bank as the reasons caution is in order.
What can we expect in the future from the Bank of Canada? This morning, Avery Shenfield, chief economist CIBC World Markets had some interesting observations:
