1458 ET - The Bank of Canada "very clearly cracked open the door" to raise interest rates, including as soon as October, says Derek Holt, Bank of Nova Scotia. Holt has been steadfast for months about the possibility of BOC rate hikes this year. Holt notes that Gov. Tiff Macklem was asked directly at a press conference about multiple rate increases to contain inflation. "Macklem not only did not bat it away, he responded in the affirmative," says Holt. He adds Macklem remarks represent a "total narrative shift" from the central bank, which had previously highlighted slow growth, uncertainty over inflation, and less alarm over inflation spreading to non-energy goods.