The next Bank of Canada meeting is December 7, 2022
Jerome Powell, BoC Govenor, is saying that we should expect an additional interest rate rise of 0.5% at the next meeting. He has said that they want to slow the increases as they near what they expect the target interest rate to be in order to slow inflation to the two percent range. The worry is that if they overshoot the target interest rate a recession will be created. It should be noted that the economy is slow to react to higher interest rates.
Higher interest rates are expected to be with us here in Canada for some time. (Probably years?)
Please contact me if you think that this may affect you.
Paul Thomas