Central bank’s ‘definitive’ language on pausing future rate hikes an ‘appropriate’ choice, say economists

The Bank of Canada's projection that inflation will drop to around three per cent later this year sounds ‘pretty heroic,’ says economist Don Drummond, but the numbers indicate it's possible.

On Jan. 26, Bank of Canada Governor Tiff Macklem announced the central bank was hiking its trend-setting interest rate by a quarter point to 4.5 per cent.The Hill Times photograph by Andrew Meade

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BY IAN CAMPBELL

January 27, 2023

Many observers were pleased with the Bank of Canada’s “definitive” language that its latest interest rate hike will likely be the last for some time—barring unexpected circumstances—but there was less consensus among economists on how different segments of Canadian...

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