![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2018\/12\/JPbombales-3831-compressed.jpg\")
<\/a><\/p>\nPhoto: James Bombales<\/em><\/p>\n Three interest rate hikes in 2019 \u2014 that\u2019s what economists have been predicting for months, as part of the Bank of Canada\u2019s ongoing strategy to keep the country\u2019s inflation levels in check. But, according to one economist, that plan may have changed.<\/p>\n The BoC held the overnight rate at 1.75 percent yesterday, and released a statement that Brian DePratto, a senior economist at TD, believes hints that the next hike may not come until next spring.<\/p>\n\n \u201cWe no longer expect the Bank of Canada to hike its policy interest rate in January,\u201d he writes, in a recent note examining the BoC\u2019s decision. \u201cSpring 2019 now appears to be the more likely timing, allowing for the Bank to ensure that the growth narrative is back on track.\u201d<\/p>\n Higher interest rates lead to higher mortgage rates, and add to deteriorating affordability conditions in an already pricey housing market. If the Bank does decide to wait til spring to hike rates, it could be a breath of relief for many current and would-be homeowners, and might lead to slightly higher levels of housing activity in the new year.<\/p>\n But not everyone agrees \u2014 Derek Holt, VP and head of Capital Market Economics at Scotiabank, says that while the BoC does seem more cautious in its most recent statement, he maintains that a hike earlier in 2019 is still on the table.<\/p>\n \u201cThe door is left open to revisit the more cautious stance in 2019,\u201d he writes, in his most recent note on the subject.<\/p>\n