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On June 14, 2013, BMO Capital Markets Economics published Canadian Economic Outlook and it predicted that Canadian overnight rate will go up to 1.25% by third quarter of 2014.

Five days later Canadian Press reported that BMO’s chief economist Douglas Porter reaffirmed that prediction by saying that the  Central Bank will start raising rate by July 2014. He predicted that the rate will go up by 0.5%, not 0.25% – that is stated in BMO report.

 Forecasts from other banks:

Start Date Q3 – 2014 2015 Late 2014
Rate 1.25% 1.25% 1.15%
These forecasts does not mean that Bank of Canada will saty put if inflation raises.