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Bank of Canada Faces Rate Hike Prospect on June 9 Despite Weak GDP Growth

2026-06-09 12:18:21

According to Joe Brusuelas, RSM's chief economist, Canada's central bank faces a potential rate hike prospect despite economic weakness. Energy price increases could push Canada's inflation rate above the 3% threshold, while GDP has contracted for two consecutive quarters with three quarters of decline in the past year. The central bank is expected to announce its rate decision on Wednesday, with Governor Macklem to hold a press conference following the decision to address the challenging policy outlook.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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