Comments made Wednesday by senior officials from the Bank of Canada have raised expectation that an interest rate rise could be coming soon.

Although analysts have been betting on a rate rise towards mid-2018, economic conditions have shifted towards a rise this year with many now suggesting that September could be likely.

Hawkish comments made by both the BoC governor Stephen Poloz and deputy governor Lynn Paterson, have got some thinking that interest rates could move as soon as next month.

Both officials said rate cuts made in recent years have “done their job” and Mr Poloz said earlier in the week that rates were “extraordinarily low”.

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