Bank of Canada maintains key interest rate at 5% as inflation cools, with forecasts for rate cuts in mid-year.
The Bank of Canada is expected to maintain its key interest rate at 5% today, as inflation cools. Despite a drop in Canada's inflation rate to 2.9% in January, the central bank wants to see sustained declines in inflation before considering rate cuts. Forecasters expect the bank to begin lowering interest rates around the middle of the year, as the slowing Canadian economy puts downward pressure on price growth.
March 06, 2024
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