The jump in headline inflation to 3.0% in July, from June’s 2.5%, was partly due to rising energy prices but also appeared to reflect a pick-up in general inflationary pressures. We think that the Bank of Canada’s commitment to take “a gradual approach” means that back-to-back interest rate rises are unlikely, but we do now expect an interest rate hike in October.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.