The Bank of Canada on Wellington Street, Ottawa.
Business

Job losses cool talk of a Bank of Canada rate hike on Oct. 28

The central bank has held its key rate at 2.25 per cent at seven straight decisions this year. Markets now see roughly a one-in-four chance of a hike.

The Bank of Canada on Wellington Street, Ottawa.

By West Coast News staff

· 1 min read

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The Bank of Canada announces its next rate decision, with a new Monetary Policy Report, on Wednesday, Oct. 28, at 9:45 a.m. Eastern.

The bank held its policy rate at 2.25 per cent on Sept. 2. With inflation at 3.0 per cent, market discussion had turned to a possible increase rather than a cut, but September's job losses pushed the odds of an October hike down to about 25 per cent, Wealth Professional reports.

The bank's Business Outlook Survey and Survey of Consumer Expectations are due Oct. 19. The October jobs report follows on Nov. 6.

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