Markets are so certain that U.S. Federal Reserve chair Jerome Powell will raise rates this week that a failure to hike would likely have worse consequences for American markets than the impact of higher borrowing costs.
But the near certainty so cherished by market traders — who hate rude surprises — will provide little reassurance for the millions of people around the world, including over-borrowed Canadians, who will inevitably feel the effects of higher rates.
And not only are market indicators showing a 100 percent expectation of a rate hike on Wednesday, most analysts expect another increase in December, with predictions of as many as four more quarter-point increases in 2019.
Read full story here: Canadian Borrowers Will Feel This Week’s U.S. Interest Rate Hike: Don Pittis | CBC News
