Will there be a rate hike in 2023?

Money markets still see a chance for another rate hike this year. A median of 25 participants now also predict a 0.7 per cent gross domestic product growth at the end of 2023, instead of a 0.1 per cent contraction forecast in the last survey.

Why did the bank of Canada hike its overnight rate?

REUTERS/Chris Wattie Acquire Licensing Rights OTTAWA, July 12 (Reuters) - The Bank of Canada on Wednesday hiked its key overnight rate by a quarter of a percentage point to a 22-year high of 5.0%, and said it could raise rates further because of the risk of inflation stalling above its 2% target.

Is a new rate hike a warning to Canadians?

Economists say the latest move is a warning to Canadians not to expect rate cuts anytime soon, and that future rate hikes are not off the table. The central bank’s key interest rate now stands at 5.0 per cent following back-to-back increases.

Will the bank of Canada 'crush' inflation with another rate hike?

The central bank, which is focused on returning inflation to its two per cent target, paused its aggressive rate hiking cycle earlier this year. Some economists, including Scotiabank’s Derek Holt, have called for the Bank of Canada to act quickly to “crush” inflation with another rate hike sooner than later.