Economists Predicting Another Interest Rate Hike Next Week

Friday, 20 January 2023 13:26

By Linda Morgan

Experts forecasting the central bank will raise the key interest rate by a quarter of a percent

The Bank of Canada is expected to raise interest rates on Wednesday, but economists say it will probably be the last rate hike for awhile.

Many commercial banks predict the central bank will increase its key interest rate by a quarter of a percentage point.

This would bring it to four and a half percent.

Desjardins economist Royce Mendes says the central bank will likely justify the rate hike by pointing to inflation and the labour market.

More from Local News

Girl Assaulted in Break and Enter

Police say this happened at a home in Niagara on the Lake, they're looking for a man in his mid-30s
Update: Standoff Over, Suspect Arrested

Police say 59-year old man has been charged with attempted murder
Ontario/New York Agree on Nuclear

Premier Doug Ford and Governor Kathy Hochul signed an agreement to work together to develop the energy sector, noting jobs to be created
Port Colborne Man Charged with Sexual Assault

Police say this dates back over 20 years ago
Every Health Care Job Needed: MPP

Jennie Stevens encouraging everyone to voice concerns of health care cuts, after rallies today around the Niagara region
Police Looking for 2 Missing Teens

Police concerned for their safety due to their ages
Bob Gale Appointed New Niagara Chair

Provincial government made the decision, outlining a lengthy list of life-time accomplishments of the life-long Niagara resident
Niagara Firefighters Receive Funding

Provincial government increasing cancer prevention for 10 local fire departments