The Bank of Canada is expected to raise interest rates to a 15-year high on Wednesday in the face of a tight job market and above-target inflation, but economists say the move could be the last in the current tightening cycle.
of economists shows that Canada's central bank will hike its benchmark rate by a quarter of a percentage point to 4.50%, its highest level since December 2007, when the decision is released at 10 a.m. EST .
Money markets see a roughly 70% chance of a 25-basis-point move and expect the policy rate to peak at 4.50%. After raising rates at a record pace of 400 basis points in nine months, the central bank said in December that a decision to tighten further would be data-dependent.
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