Bank of Canada’s Growth Confidence Supported Wednesday Rate Hike
The Bank of Canada cited confidence in the domestic economy and companies’ ability to navigate trade turbulence as support for its Wednesday rate hike. A sharply higher inflation outlook was also a main driver, according to the report.
By Paul VieiraOTTAWA--The Bank of Canada is increasingly confident about the domestic economy and companies' ability to navigate turbulent trade waters, adding to its conviction that it was time on Wednesday to raise interest rates.To be sure, a sharply higher inflation outlook was a main driver in…