Tradelines News

Get the latest news and updates on cross-border customs and international trade.

OECD Forecasts Bank of Canada Will Raise Key Interest Rate in May 2015

Posted November 25, 2014

Under Economic Issues, International Trade Issues

(CTV News)

The Organization for Economic Co-operation and Development forecasts that the Bank of Canada will begin hiking its key interest rate in May 2015 – months ahead of what economists have been predicting.

In its latest Economic Outlook, the Paris-based group says that the central bank will eventually need to raise the currently low one per cent rate to “counter inflationary pressures,” with the rate to rise steadily afterwards. Read more here.