Bank of Canada Holds Rates, Warns of Possible Future Hikes

The Bank of Canada has decided to keep interest rates steady, but its Governor Macklem has issued a warning that if inflation persists, multiple consecutive rate hikes may be necessary.

This decision was made earlier this month, and while the central bank is keeping rates unchanged for now, it's clear that they're closely monitoring the situation. If inflation remains high, the Bank of Canada won't rule out taking action to control it.

The Riksbank, Sweden's central bank, is also expected to make a decision soon. They currently have a key policy rate of 1.75% and are likely to keep it unchanged at their upcoming meeting later this month. However, the market expects them to raise rates later in the year.