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Interest Rate Hike Moves to Back Burner

The Bank of Canada is almost certain to wait until the latter half of this year to raise interest rates, now that an election is in the offing. Many economists were already predicting that rate hikes would be on hold until the summer and the spectre of a federal campaign is now cementing that view. History shows that the central bank is usually reluctant to increase rates during an election, due to uncertainty about the direction of the government’s economic policies and the possibility that the move could be seen as partisan. Read more...