When the Bank of Canada raised its benchmark interest rate for the first time in two years earlier this month, it sent an unmistakable message to borrowers that the era of cheap money was coming to an end.
While economists expect the bank to gradually raise its rate another half-dozen times or so this year, there’s a growing sense that the bank may need to start moving faster and more dramatically than anticipated to rein in inflation, which is already at its highest level in a generation.
Pricing in investments known as swaps suggests there a good chance the bank will
