the bank of canada’s surprise interest rate increase this month was “appropriate” the international monetary fund says in its latest update on the canadian economy the rate rise from 450 to 475 and ending a fourmonth pause reinforces the bank of canada’s commitment to bring inflation down to target imf economists write the central bank on june 7 cited strongerthananticipated growth and mounting worries that inflation could get stuck at elevated levels for lifting rates by a quarterpoint or the ninth increase in 15 months the imf says the bank of canada should raise rates again “should data warrant it”