The Bank of Canada will not hike interest rates again for the remainder of the year and is expected to start cutting rates next spring, according to a survey of economists and market participants released by the central bank.
A survey of market experts says the Bank of Canada will unlikely hike interest rates again for the remainder of the year, and is expected to start cutting rates next spring, according to a report of economists and market participants released by the central bank.
The central bank’s second-quarter survey, released Monday, found that most respondents — senior economists and strategists involved in Canadian financial markets — forecast that the Bank will hold its key overnight interest rate at its current 22-year-high of five per cent for the rest of the year, and will not start to cut rates until March 2024.
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