TD, CIBC predicting 6.2% and 6.4% respectively for January Canadian inflation
Interest rates are expected to remain at or above 4% in both Canada and the U.S.
Wage-price spiral risk down, inflation forecast to fall to 2% by 2024
Japan had been a holdout among major industrialized nations in allowing yields to rise
Jerome Powell has expressed hope that inflationary pressure can be relieved by employers cutting job openings, not jobs
Markets will be watching the quarterly monetary policy report closely
The bank matched last month's half-point increase to bring its benchmark rate to 2.25%
New 3% to 3.25% range is highest since 2008
Stock prices tumbled and bond yields rose as many investors feared a more aggressive Federal Reserve
More declines from recent highs are likely, but prices should remain above pre-pandemic levels