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“With inflation well above its target of two per cent and more persistent than initially thought, inflation expectations rising and a broadening of inflationary pressures, we believe the Bank of Canada will continue to aggressively hike interest rates,” Charles St-Arnaud, chief economist at Alberta Central told the Financial Post as a part of a recent article sharing insights from economists on the climbing rate of inflation.

He continued: “Moreover, the sharp acceleration means that the BoC will continue to front-load the rate increase. In our view, the BoC will likely increase its policy rate by 75 bp at the July meetings and by 50 bp at the September and October meetings, ending the year at 3.25 per cent.”

You can read the full article here.

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