The Maritime Sikh Society says the body of a young employee who died at a Walmart in Halifax last weekend was found by her mother.
Are more interest rate hikes on the way? Here's what experts say
In the wake of the Bank of Canada鈥檚 unexpected rate hike, economists are pointing to further tightening in the near term.
On Wednesday, the Bank of Canada surprised the majority of experts by raising interest rates 25 basis points to 4.75 per cent, the bank鈥檚 first hike since January.
In a statement, Bank of Canada Governor Tiff Macklem said, 鈥淓xcess demand in the economy looks to be more persistent than anticipated.鈥
Earl Davis, head of fixed income at BMO Global Asset Management, said Wednesday's rate hike is a signal that .
鈥淲hen the Bank of Canada starts hiking, it's not just one hike, it is multiple hikes,鈥 he told BNN Bloomberg. 鈥淪o because they hike today, I do expect to see one, if not two, more coming down the line before they pause again.鈥
Davis had previously predicted rates would reach six per cent by the end of the year, but has since shifted that estimation to five or 5.50 per cent, though rates could reach six per cent in the U.S.
Davis added that Wednesday鈥檚 announcement comes down to 鈥渋nflation expectations鈥 going back up or stalling its decline.
鈥淚f they go again, which I anticipate they will is shooting into the crowd of inflation, because they need to drop the expectations part of it down now,鈥 he said.
Davis isn鈥檛 alone in expecting further hikes on the way, Steven Ranson, president and CEO of Home Equity Bank, also expects more will come.
鈥淭here鈥檚 probably another 25 basis points coming maybe not in July, but possibly in September if inflation doesn鈥檛 come down, and it doesn鈥檛 seem like it is,鈥 he said. 鈥淕etting down to that two per cent number is going to be challenging and it seems like we鈥檙e a long way from that.鈥
John Murray, a former deputy governor at the Bank of Canada and current senior fellow at the C.D. Howe Institute, said he predicts the central bank may increase interest rates two or three more times before the end of this year as it continues to target inflation 鈥 though what comes next is 鈥渁ll very uncertain.鈥
Murray suggested that the Bank of Canada could use other 鈥渁ctive quantitative tightening鈥 approaches besides interest rate hikes, such as selling off its bond inventory.
Ultimately, Murray told BNN Bloomberg that he believes the central bank will be able to bring inflation back to its two per cent target using monetary policy.
鈥淚 think central banks here and elsewhere are absolutely determined to achieve and sustain their target,鈥 he said. 鈥淚t's a question of how much tightening is needed and in what form.鈥
Meanwhile, Josh Nye, a senior economist at the Royal Bank of Canada, said in a statement to expect further hikes.
鈥淥ur expectation has been that if the BoC was coming off the sidelines, they would intend to hike more than once鈥攊f 4.50 per cent wasn鈥檛 restrictive enough it鈥檚 hard to think 4.75 per cent is,鈥 he said.
Not everyone is convinced more hikes are coming, however.
鈥淎 lot will depend on the data, if we鈥檙e looking at July meeting, there鈥檚 several pieces of data that could influence that decision,鈥 said David Doyle, head of economics at the Macquarie Group.
The next rate announcement is scheduled for July 12.
With files from Holly McKenzie-Sutter
CTVNews.ca Top Stories
Four people are dead and another is in hospital after a Tesla driving through downtown Toronto at a high rate of speed crashed into a guardrail and struck a concrete pillar on Lake Shore Boulevard.
Prosecutor recommends parole for Menendez brothers in 1989 murder of parents
A Los Angeles prosecutor said on Thursday he would ask a judge to release Erik and Lyle Menendez on parole after nearly 35 years in prison for the shotgun murder of their parents, as new evidence emerged indicating they were sexually abused by their father for years.
Former Sports Illustrated swimsuit model says Trump groped her to show off for Jeffrey Epstein
A former Sports Illustrated swimsuit model鈥痠s alleging鈥痶hat former President Donald Trump groped her in the 1990s, in what she believes was an attempt to show off for Jeffrey鈥疎pstein.
'Never said I was going to close the door on politics forever': Christy Clark on interest in federal leadership run
As Prime Minister Justin Trudeau faces growing pressure from within his own caucus to step aside, former B.C. premier Christy Clark says she is open to returning to politics.
Montreal police say four teenagers suffered stab wounds after an altercation near John F. Kennedy High School in the city's Villeray鈥擲aint-Michel鈥擯arc-Extension borough on Thursday.
More straight couples are calling each other partner. Here's why
Within a year of dating, 31-year-old Siara Rouzer crossed a major relationship milestone. The guy she was seeing was no longer a boyfriend but her partner.
Trudeau announces massive drop in immigration targets as Liberals make major pivot
The federal government is slashing immigration targets to levels that will flatten population growth as Prime Minister Justin Trudeau admits the government did not get the balance right after the COVID-19 pandemic.
The Ottawa Police Service has identified the woman who was stabbed to death at Paul Landry Park on Uplands Drive Thursday morning.
Local Spotlight
A new resident at a Manitoba animal rescue has waddled her way into people's hearts.
Hundreds of people ran to the music of German composer and pianist Beethoven Wednesday night in a unique race in Halifax.
He is a familiar face to residents of a neighbourhood just west of Roncesvalles Avenue.
A meteor lit up our region's sky last night 鈥 with a large fireball shooting across the horizon over Lake Erie at around 7:00 p.m.
Residents of Ottawa's Rideauview neighbourhood say an aggressive wild turkey has become a problem.
A man who lost his life while trying to rescue people from floodwaters, and a 13-year-old boy who saved his family from a dog attack, are among the Nova Scotians who received a medal for bravery Tuesday.
A newly minted Winnipegger is hoping a world record attempt will help bring awareness for the need for more pump track facilities in the city.
A Springfield, Ont. man is being hailed a 'hero' after running into his burning home to save his two infant children.
Hortense Anglin was the oldest graduate to make her way across the platform at York University's Fall Convocation ceremony this week. At the age of 87, she graduated with an Honours degree in Religious Studies.