According to CoinMeta, the Bank of Canada may ignore weak economic data in order to address inflation risks. Ali Jaffery, Chief Economist at KPMG Canada, stated that although he does not support the Bank of Canada's decision to raise interest rates on Wednesday, he believes that this move "cannot be considered a policy mistake." He pointed out that despite the reduction in job opportunities and weakening market sentiment in Canada, the Bank of Canada seems determined to proactively address the inflation risks posed by persistently high crude oil prices. If the Bank of Canada raises interest rates by 25 basis points first, followed by another increase later on, the policy rate will remain within the central bank's estimated neutral interest rate range. Jaffery noted that raising interest rates could prolong the period of weakness in the Canadian economy, but he added that Bank of Canada officials may believe that there are still sufficient favorable factors present that can support continued growth.