Key lending rates have changed – the first increase since July 2007.
Stats Canada has released their first quarter report and the economy is hot as its findings say. Real GDP has grown 6.1%, the biggest increase in a decade. Residential investment continued to increase for the fourth quarter in a row.
In an effort to slow inflation, Bloomberg has surveyed and 25 of 27 economists say the Bank of Canada will raise the lending rate by a quarter percent. The markets (predicted by the Overnight Index Swap) are slightly less sure at 70-80% chance of a rate boost.