BoC Preview: Forecasts from 10 major banks, taking what is offered, a 75 bps hike BOC USDCAD InterestRate Macroeconomics Banks
a further 75 bps given the upside surprise in inflation. Job creation has also returned and consumer activity is holding up so we agree that 75 bps is the most likely outcome having previously forecast a 50 bps hike.”“We look for the BoC to lift its policy rate by 75 bps in October due to stubbornly broad and persistent underlying inflation. We expect an additional 25 bps move in December with a terminal rate of 4.25%, as rapidly slowing growth will warrant a pause in the new year.
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