How High Will Rates Go?

Inflation hit a 40 year high in America this week, reaching 8.6%. The ramifications of this were instantly felt with the stock markets dropping sharply. Canada's next CPI announcement will almost certainly print higher when they announce on June 22nd. Should there be an increase, a 0.50% increase at the July 13th seems like a lock, with rumours already spreading that the BoC may go with 0.75%. This puts the overnight rate between 2% to 2.25% up from 0.25...