Bank of Canada rate hikes ‘at best unnecessary, at worst a mistake,’ leading economist says ahead of rate announcement next Wednesday

“History could show that the recent Bank of Canada rate hike (and any subsequent moves) was at best unnecessary, and at worst a mistake,” said CIBC senior economist Andrew Grantham in a report.

To be fair, for all we know history will show the exact opposite -- that rates should have been raised higher and faster to control inflation.