Economists Warn Bank of Canada About Interest Rate Cuts

Far too many indicators, inflation included, are still too erratic for the BoC to approach the topic of interest rate cuts, economists warn. In December, but many experts are still forecasting that the first interest rate announcement of the year, slated for Wednesday, January 24, will bring another hold. are all predicting that the Bank of Canada (BoC) will hold its benchmark rate at 5%, which is where it’s been since the last rate hike in July.

Although the bank’s deliberations this week are anticipated to be fairly cut and dry, the press conference that will follow Wednesday’s announcement — it’s scheduled for 10:30 a.m. ET — could give Canadians some clues about those elusive rate cuts (or at the very least, help to manage expectations about when that first cut will realistically come). A quarterly Monetary Policy Report will also be released in tandem with the rate announcement. On January 24, we’ll publish our Monetary Policy Report, providing you with the latest insights on Canada’s econom

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank of Canada Expected to Cut Interest Rate by 2025The Bank of Canada is predicted to cut its policy interest rate to 2.25% by 2025, reducing the current rate of 5% by more than half. This would be beneficial for borrowers with high mortgage payments. Home sale numbers have decreased due to high interest rates.
Source: storeyspub - 🏆 16. / 74 Read more »

Brokers warn against locking-in longer-term mortgages as rates dropAs fixed-rate mortgage rates start to come down, some brokers are warning against locking-in longer-term mortgages. Rates have dropped by a full percentage point in the past few months, opening up an opportunity for Canadians eyeing the spring housing market. While experts say there’s little downside to securing a cheaper rate today, committing to a long-term mortgage with rate cuts in the forecast might end up costing some households more.
Source: GlobalNational - 🏆 81. / 51 Read more »