As part of a recent Bank of Canada overnight rate report, Alberta Central Chief Economist Charles St-Arnaud told Finder.com ” “There is a need to bring the policy rate rapidly to neutral and maybe even above to lower inflation.”
In the report, a panel of economists were asked to share forecasts about the June Bank of Canada rate decision. Their insights demonstrated that all experts agree the overnight rate would increase, with many thinking it will continue to increase throughout 2022.
You can read more on Finder.com here.