Interest rate hike expected Wednesday in move to quell inflation

Economists say the Bank of Canada is on track for another rate hike on Wednesday.  It is expected to be a 0.5 per cent hike, bringing the benchmark overnight rate to 1.5 per cent, “with more increases likely in the months ahead,” said Nathan Janzen, assistant chief economist at the Royal Bank of Canada. It’s all in a move to quell inflation. Canada's consumer price index jumped 6.8 per cent in April compared to the previous year, according to Statistics Canada. &