Bay Street split on timing of BoC's first post-COVID rate hike
BNN Bloomberg
Ahead of Governor Tiff Macklem’s next central bank meeting Wednesday, it would seem not everyone on Bay Street shares Derek Holt of Scotiabank's hawkish outlook.
One week ago, Scotiabank Vice President and Head of Capital Markets Economics Derek Holt generated quite a bit of buzz when he predicted to BNN Bloomberg that the Bank of Canada will hike interest rates eight times before the end of 2023.
Ahead of Governor Tiff Macklem’s next central bank meeting Wednesday, it would seem not everyone on Bay Street shares Holt’s hawkish outlook.
BNN Bloomberg spoke with Bay Street economists about their thoughts on Holt’s call. Here’s what they had to say:
When do you think the Bank of Canada should start raising rates?
Q1, 2022. Specifically either Jan. 26, 2022 or April 13, 2022 to align with the release of the Monetary Policy Report.
How many times do you think the Bank of Canada will raise rates before end of 2023?
