Canadian banks poised for 0.25% interest rate hike: lot of pain yet to come, economist says

All six of Canada’s largest commercial banks expect a quarter of a percentage point increase in the Bank of Canada’s key interest rate. “There’s still going to be a level of pain felt by a lot of consumers and a lot of the general public based on the higher rates that we’ve seen the central bank raise over the last year or so and the simple reality is a lot of that pain is still yet to come in the markets,” says Nate Thooft of Manulife Investment Management. Anne Gaviola has more.

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