Economists expect Canada to raise rates for third time in a row

A consensus of economists believe the Bank of Canada will overlook recent disappointing economic data and continued U.S. weakness and hike the trendsetting rate a quarter point to one percent.

Bank of Canada Governor Mark Carney has said there is no longer a need for emergency rates. In June, Canada became the first Group of Seven nation to raise interest rates since the global economic crisis. It raised rates again in July.

Royal Bank Chief Economist Craig Wright said Tuesday he expects Carney to raise rates and then pause at its Oct. 19 decision.

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