The BoC delivered a hawkish surprise at its last meeting. It increased rates by 50 bps as expected, but it increased the terminal rate to 2.5% from 2.25%. The BoC…

The BoC delivered a hawkish surprise at its last meeting. It increased rates by 50 bps as expected, but it increased the terminal rate to 2.5% from 2.25%. The BoC…