Bank of Canada Eyes Seventh Rate Hike Since March

The Bank of Canada is expected to raise interest rates in December, according to a prediction from Scotiabank. This would mark the seventh rate hike since March 2022 and the third increase since September this year.

The Canadian economy has been showing signs of resilience, with GDP growth exceeding expectations. However, inflation remains a concern, and the Bank of Canada will likely aim to keep it under control through interest rates.