Canada’s annual inflation rate came in hot once again in September, and Scotiabank economist Derek Holt sees the Bank of Canada responding with a series of rate hikes beginning next year.
It’s going to be must-see TV when Jean-Jacques Ruest joins us at 1 p.m. ET, less than 24 hours after CN Rail announced he’s planning to retire as president and chief executive of the company.
The rising cost of goods is taking its toll on Canadian households with almost half (46 per cent) of all respondents in a recent survey stating they have some difficulty covering their grocery bill.
Inflation exceeded the Bank of Canada’s control range for a sixth straight month, worsened by supply chain bottlenecks that are proving stubbornly persistent.
Traders are betting that the Bank of Canada will be forced into raising interest rates earlier than expected, posing one of the stiffest tests yet for Governor Tiff Macklem.
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