🇨🇦 BANK OF CANADA: HIKE OR HOLD?

Canada’s inflation picture is sending mixed signals.🙄

Headline inflation has risen from 1.8% to 3.1%, mainly due to higher energy prices. Meanwhile, core inflation has eased from 2.3% to 2.2%.

Businesses are still active, but rising oil prices are pushing up costs.

So, the Bank of Canada faces a tough choice: raise rates to fight inflation or hold steady to avoid putting pressure on the economy.

My take is that the Oil prices could shape the next move for both inflation and the Canadian dollar. A rate hike might support the CAD in the short term, but the bigger question is whether inflation keeps rising.

Happy halloween Guyz…..🎃

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