The Bank of Canada is attempting to rein in inflation again, raising its benchmark interest rate by 50 basis points to 3.75 per cent.
A pool of economists predict the cycle of rate hikes will continue through the year, with another increase coming in December. But the pace should wind down. In Finder’s BoC Overnight Rate Survey, only 18 per cent of expert economists believe Canada’s central bank will forge ahead with rate hike policy at its January 2023 meeting, although a small minority of 6 per cent think another hike could happen next March. Read more on:
https://www.reminetwork.com/articles/real-estate-downturn-expected-continue-2023/