Financial markets have begun betting on a rate hike from the Bank of Canada next week, putting more weight on hawkish remarks by Governor Tiff Macklem than a better-than-expected inflation print for September. On Monday, Statistics Canada reported that the annual rate of inflation ticked up to 3.1 per cent in September from 3 per cent the month before, driven by a 6.1-per-cent monthly increase in gasoline prices. The headline number was actually better than Bay Street forecasters expected, and there were few signs that the energy price shock was spreading to other consumer prices. But that seemed to provide cold comfort to bond traders, who were paying closer attention to comments Mr.
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