According to CoinMeta, the market generally expects that the Bank of Canada will raise its benchmark interest rate by 25 basis points to 2.5% on Wednesday. Most economists believe that if a rate hike does occur, it would be the first time the Bank of Canada has raised rates since mid-2023 and also the first time in nearly a year that monetary policy has been adjusted. A rate hike could push up bank loan rates and mortgage costs, and may slow economic growth. However, many economists say that this move will help the Bank of Canada to prepare in advance for potential cost pressures caused by rising gasoline and diesel prices in the coming months. The money market currently estimates that there is about a 77% probability that the Bank of Canada will raise rates by 25 basis points today. The Bank of Canada will announce its monetary policy decision at 21:45 Beijing time.