Economists at Bank of Montreal got some free publicity this week for doing nothing more than joining the pack.
Their peers at National Bank were the first to predict the Bank of Canada would raise interest rates next week. Four of the Big Five banks followed a week ago, after Statistics Canada reported that the unemployment rate in December was the lowest in at least four decades.
The crew at BMO delayed a decision that brought it some extra attention when chief economist Douglas Porter announced on Monday that he too had advanced his forecast to Jan. 17.
Nothing against BMO, but the holdout everyone should have been watching this week was the top economist at Canada’s No. 7 bank, the relatively tiny Laurentian.
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