According to CoinMeta, Desjardins economist Royce Mendes stated that the Bank of Canada has slowed down its tightening measures by raising interest rates by 25 basis points. He noted that officials mentioned that further rate hikes may still be necessary in the future, but the Monetary Policy Committee unanimously agreed that caution should be exercised. Mendes believes that policymakers have made a difficult but forward-looking decision this time, which helps to reduce the risk of having to adopt more aggressive rate hikes in the future that could have a heavy impact on the economy. He added that there is still considerable uncertainty as to whether the central bank will raise rates again in December, with equal chances of it happening or not. For now, he still expects policymakers to proceed with monetary tightening in stages, and the next and final rate hike is expected to take place in January next year.