In recent media coverage, Alberta Central Chief Economist Charles St-Arnaud noted that he predicts the next move for the Bank of Canada (BoC) will be a rate hold, with further increases not off the table. He notes:

“The key message is that the BoC remains concerned that underlying inflationary pressures remain persistent…it remains clear that if there is a tug-of-war between economic activity and fighting inflation, the BoC will choose to fight inflation,” he stated in an article from The Chronicle Herald.

In online coverage on Yahoo Finance, he was also quoted, stating that: “The BoC does not provide any forward guidance on whether further rate hikes could be necessary or whether it believes it will keep rates on hold for an extended period, suggesting that the BoC will be data-dependant.”

He was also quoted in a recent article in The National Post on rates, noting that the BoC continued to hold rates steady at the most recent meeting and he expects this trend to continue.

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