Kitchener News | Local Breaking | CTV News Kitchener

Guelph Top Stories

STAY CONNECTED

CTVNews.ca Top Stories

UPDATED

UPDATED | Bank of Canada warns on prolonged inflation, ends bond-buying program

The Bank of Canada is warning inflation will stay higher for longer than it previously forecast and signalled that an interest rate hike may be coming sooner than expected. The central bank said Wednesday it now forecasts that annual inflation rates will continue their upward swing through the rest of year, averaging 4.75 per cent.