Mortgage-debt pressure will lead to deceleration in rate hikes from the BoC: Karl Schamotta
Karl Schamotta, chief market strategist at Corpay, joins BNN Bloomberg for his view on the Canadian economy and currency following OPEC+ recommendation regarding oil production cuts. Schamotta says supply cuts will support prices; however, he expects demand will continue to decrease. Schamotta adds the Bank of Canada will hike rates by 50 bps later this month, but after it, he expects a deceleration. Watch the video here.