The Bank of Canada has hiked again – will the RBA follow?

Two rate hikes in three months and no sign of inflationary pressures in sight.

The Bank of Canada's surprise decision to tighten policy again on Wednesday night may provide a whiff of a different approach to monetary policy setting: one that blazes the trail for central banks in other advanced economies to tighten policy even in the absence of the traditional triggers such as climbing wages and consumer prices.