​Bank of Canada doesn't need to hike rates any further: Economist

Signs of headline inflation slowing down in Canada should be enough for the country’s central bank to hold off on any further rate hikes, one economist says.

Balancing public perception and bringing down core inflation will be a challenge for the bank, PIMCO’s managing director and North American economist Tiffany Wilding, told BNN Bloomberg on Tuesday.    “This is a really tough balancing act,” she said.    Today’s data was good for inflation expectation but still revealed that sticker categories aren’t making as much progress as needed, Wilding added.    “We agree that a rate hike is on the table for September,” she said.    Between now and then, the BoC will have several more data points to make a better informed decision, Wilding noted.    “We’re kind of leaning towards they probably don’t hike, but ultimately it’s going to be a close call,” she said.