Economists Say Bank of Canada to Begin Hiking Rates Next Week

• Central bank ‘cannot afford to wait any longer’: Scotiabank
• Economy is running hot, with widespread labor shortages

Canadian banks are bringing forward their forecasts for interest rate hikes to as early as next week, amid growing evidence the economy is hitting limits and inflation pressures are rising.

Economists at TD Securities and Laurentian Bank said Monday the Bank of Canada will start a hiking cycle at its policy decision on Jan. 26. Bank of Montreal brought forward its call on the first increase to March from April, while Bank of Nova Scotia said the central bank “cannot afford” to wait any longer.

Continue reading: Bloomberg 

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