The Bank of Canada is likely to raise interest rates this week. Why? Due to strong economic growth, a tight job market, and persistent inflation. Despite some recent signs of a slowdown, such as lower inflation and a modest jobs report, the market expects another rate hike. The housing market has also shown improvement, even with previous rate increases. In June, Canada added more jobs than anticipated. While inflation is lower than last year, the core inflation rates remain somewhat stable. The goal of the central bank is to bring down costs without harming the economy.