The Bank of Canada signaled Tuesday that a half point rise in the overnight rate could happen as early as the June scheduled rate announcement. Canadians may even be hit with a 1/2 point rate increase at the next announcement June 1st. The premature move, a month ahead of the scheduled July increase, is due to a stronger than expected economic recovery. A rate hike in June would position Canada 1st amongst the G7 countries to raise rates.
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