BMO Releases The Latest Forecast On BOC Rate Hikes In March 2022

Vancouver, Toronto, Calgary

2022/04/05

BMO expects the BOC to hike rates by 0.25% in each of the next five meetings, before taking a breather in Dec. 2022.A final 0.25% hike is predicted for January 2023, leaving policy rates at 2%, where they are expected to peak.Furthermore, February's inflation reached a 31-yr high with a 5.7% annual pace in Canada.The inflation also placed the Q1 2022 avg at 5.4%, and is likely to rise further by April 2022. Energy prices are a big driver for the inflation outlook, as they’ve swung wildly following the Russian invasion of Ukraine.