2 August 2018

“The current strong growth only supports our confidence that we’ll see another rate increase in 2018”, – he noted, adding that he doesn’t expect any changes from the central bank until October.

As you know, last month, the BoC decided to raise its rate for the fourth time in a year and made it clear that more hikes are coming, as the economic growth increases the possibility of rising inflation.

The Bank predicts a 2.8% GDP growth for the second quarter of 2018, while analysts expect 3.0%.

CIBC Capital Markets chief economist Avery Shenfeld also believes we’ll see one more rate increase in October, but then the BoC will take a pause until the next year.