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Bank Of Canada Expected To Outline Path Towards Interest Rate Hikes In 2022
The Bank of Canada is expected to outline a path towards interest rate increases in the New Year when it holds its latest policy meeting later today (December 8). Economists forecast that the central bank will keep its benchmark overnight interest rate at its current level of 0.25% following today’s meeting but is expected to begin preparing markets for a series of aggressive rate hikes throughout 2022 aimed at reining in inflation. The Bank of Canada has already ended a bond-buying stimulus program and hinted at an accelerated timeline for beginning to increase borrowing costs in the coming months. A strong run of ... (full story)