Economy / Markets
Markets flip to a Bank of Canada hike on Wednesday
Nineteen of 34 economists in a Reuters poll published on 23 October expect the Bank of Canada to raise its overnight rate a quarter point to 2.50% on 28 October, its first move in a year, after Governor Tiff Macklem said the inflation outlook would be higher than July's forecast. Rate futures moved from a 30% chance of a hike to roughly three in four. A 55% majority also expects one more increase before March 2027.