Poloz Expected to Hike Rates at Bank of Canada Meeting: Chart

What a long, strange trip it’s been for Canadian monetary policy makers. In 2015, Bank of Canada Governor Stephen Poloz cut rates twice to get ahead of falling oil prices that ultimately led to below-potential growth, a technical recession and about C$60 billion ($46 billion) a year in lost income. Now, with the output gap shrinking, traders and 25 of 33 economists surveyed expect Poloz to raise the central bank’s overnight interest rate by 25 basis points to 0.75 percent in a decision due Wednesday at 10 a.m. in Ottawa.

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