Put me in the camp that we see less than 0.75 next year in Canada and the US. It’s clear that inflation is easing and with retail sales and decreasing housing demand, that should continue. The thing is, a rate hike takes about a year to work it’s way through the system, and we’re not at a year for the initial hikes yet. In other words, the impacts are yet to be seen for these hikes.
I’d expect 0.25 in January, if anything and then we’re probably holding for a while to see how things go. They’re not likely cutting unless things get uglier than expected, but I can’t see them continuing the outsized hikes either.
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