Published by Jamie JemmesonForex analysts anticipate that the Bank of Canada will raise interest rates one or two times over the next few months before freezing rates in the fourth quarter.Speaking to Bloomberg, Michael Gregory, senior economist at Bank of Montreal in Toronto, said the bank's governor Mark Carney is unlikely to stray too far from the policies of other rate-setting institutions, which are taking an increasingly dovish stance amid turbulent economic conditions."The bank will have a bit of a pause after we get a couple more rate hikes under the belt. The first part of the curve to see that benefit will be the shorter securities," he said.The first rate increase is expected to come tomorrow (July 20th), with all 19 economists polled by Bloomberg forecasting a 25 basis point hike to take the rate to 0.75 per cent.In early trading this morning the Canadian dollar was losing ground against its US counterpart in a broadly bearish session driven by Moody's announcement of a credit downgrade for Ireland.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site.