Bank of Canada Expected to Deliver Another Rate Increase

OTTAWA - The Bank of Canada will likely raise its benchmark rate by a quarter of a point on Wednesday, following an unexpected rise in June. This is because the economy has continued to grow at surprisingly high rates.

The Wall Street Journal surveyed 11 economists last week, and 10 predicted an increase in rates to 5.0%. The previous rate was 4.75%. Six of the 11 economists who predicted an increase in rates also said that this was the last rate hike by the Bank of Canada in 2023.

'There...