Here's what economists are expecting from the Bank of Canada's interest rate announcement on Wednesday.
According to economists’ estimates tracked by the Bloomberg terminal, the average forecast is a 50-basis-point increase from the Canadian central bank, but several experts are also leaning towards a 25-basis-point increase.
Sal Guatieri, director and senior economist, BMO Capital Markets, said he’s in the camp of a 50-basis-point increase Wednesday, due to recent strong economic data. “If they opt for 25 basis points but say that further hikes are likely, that really is very much the same policy is just doing 50 basis points,” Shenfeld said in a phone interview on Tuesday.reiterated the central bank’s commitment“We've signalled very clearly that we expect rates will need to rise further,” Macklem said at a press conference in October.
“I think it would be it would be very surprising and it would really catch a lot of us off guard if they sort of re-accelerated the pace of tightening with a 75 or 100 basis point hike,” Nye said. “We already think that they've [the Bank of Canada] overtightened,” Wendling said in a phone interview on Tuesday.
“That would be obviously a decision by the bank that the peak rate is a little lower than we had expected, and perhaps a sign that they're more concerned about some of the signs of a slowdown we saw in the third quarter numbers.”
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