Inflation is growing faster than expected
Contrary to the predictions of the Bank of Canada and of other analysts, inflation has registered beyond the anticipated rate. It seems that Canada, like everywhere else in the world, is feeling the pinch of soaring commodity prices.
What this may mean, is that the interest rate hike that has long been talked about- may be coming sooner than some might have predicted. It is anticipated that this latest data will send a message loudly and clearly to the Bank of Canada, and that they will have no choice but to raise rates; many are thinking that rates will be up by July at the latest.
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