June 28, 2017 / 1:26 PM / in a year

Bank of Canada July rate hike chances rise to 43 pct

TORONTO, June 28 (Reuters) - Chances of a Bank of Canada rate hike in July rose to 43 percent on Wednesday from 30 percent the day before, while the loonie surged to a 4-month high after hawkish comments by Governor Stephen Poloz in an interview with CNBC in Europe.

Poloz reiterated that interest rate cuts put in place in 2015 have done their job, adding “we’re just approaching a new interest rate decision so I don’t want to prejudge,” according to a transcript of the interview..

“But certainly we need to be at least considering that whole situation now that the capacity excess capacity is being used up steadily,” he added. (Reporting by Fergal Smith; Editing by Chizu Nomiyama)

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