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MNI STATE OF PLAY: Bank of Canada Seen Hiking 50BP, Framing QT

(MNI) Ottawa
OTTAWA (MNI)

Governor Macklem may also signal how fast he may tighten at the next few meetings.

Canada's central bank will likely raise its key lending rate by half a percentage point to 1% on Wednesday with inflation expected to stick above 3% for the next two years, and may also start allowing maturing assets to roll of the balance sheet.

The Bank of Canada's 0.5% overnight target will climb 50bp according to 16 economists surveyed by MNI, with two others seeing a 25bp move. The announcement at 10am EST from Ottawa also comes with an updated economic forecast and a press conference an hour later.

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Canada's central bank will likely raise its key lending rate by half a percentage point to 1% on Wednesday with inflation expected to stick above 3% for the next two years, and may also start allowing maturing assets to roll of the balance sheet.

The Bank of Canada's 0.5% overnight target will climb 50bp according to 16 economists surveyed by MNI, with two others seeing a 25bp move. The announcement at 10am EST from Ottawa also comes with an updated economic forecast and a press conference an hour later.

Keep reading...Show less