The likelihood of an interest rate hike from the Bank of Canada next week is growing as record levels of inflation and high housing prices coincide with an anticipated economic rebound from the Omicron wave of the pandemic, some economists say.
Scotiabank Economics said in a note to investors Wednesday that it expects the Bank of Canada to raise its key overnight rate by 25 basis points to 0.5 per cent at its next meeting Jan 26.
I bet the million dollar mortgage crowd is tickled to hear this.
