Benjamin Tal, deputy chief economist at CIBC Capital Markets, tells BNN Bloomberg he believes another rate hike would be a mistake, but that the BoC will nevertheless hike by 25bps this month. He says overshooting is inevitable when following a lagging indicator like inflation, but adds the BoC has no choice but to hike while inflation is still high and the labour market continues to be tight. He explains that the current rate hikes are more effective than similar hikes in the late 1980s due to higher debt levels today.