The Federal Reserve raised interest rates for the first time since 2023—and markets are wondering if the Bank of Canada will follow.

The 25-basis-point hike was widely expected after strong U.S. growth and persistent inflation, and it's unlikely to be a one-and-done.

Canada's story is different. Inflation excluding energy sits near the 2% target, and a weak economy is still constraining price pressures.

In this episode of The 10-Minute Take, Claire Fan and Carrie Freestone look at diverging central bank paths in Canada and the United States, and what could derail forecasts.