Lots of key indicators are telling the Bank of Canada that it’s time for an interest rate hike.
After the survey’s release, the chance of a July rate hike rose to 84 per cent from about 70 per cent, according to Bloomberg. Nine of 16 economists polled by Bloomberg now expect the central bank to raise rates to 0.75 per cent in July from the current 0.5 per cent.
The survey is one of the key pieces of information that Mr. Poloz and his central bank colleagues use to set monetary policy.
It was conducted between early May and early June, just before Mr. Poloz and his deputies started publicly saying the economy has turned the corner from the devastating oil price collapse that began in 2014.
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