A 50-bps rate hike in June is “virtually guaranteed” after April’s hot inflation reading
The cost of living continued to increase in April, raising the odds that the Bank of Canada will respond forcefully with at least a 50-basis-point rate hike at its June meeting.
Canada’s headline inflation rate rose to a 31-year high of 6.8%, driven largely by soaring food (+8.5%) and shelter (+7.4%) costs, Statistics Canada reported on Wednesday. Gasoline costs, considered a more volatile measure, registered a 36.3% jump in April, which was down from 39.8% in March.
Original Article Source Credits: CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/
Article Written By: Steve Huebl
Original Article Posted on: May 18, 2022