What are economists expecting from Wednesday’s Bank of Canada rate decision?

Economists are calling for the Bank of Canada to hit pause on interest rate hikes this week as the economy shows signs of overall cooling.

Most economists surveyed by Bloomberg expect the central bank will keep its overnight lending rate at five per cent when it announces its next rate decision on Wednesday.

Reitzes is forecasting that the Bank of Canada will hold rates until 2024, but he cautioned that he expects the bank will continue to leave the door open for further rate hikes, should signs of growth emerge while inflation remains stubborn.The general consensus is that economic weakness will continue in the months ahead, Royce Mendes, managing director and head of macro strategy at Desjardins, told BNN Bloomberg in an email on Tuesday.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BNNBloomberg /  🏆 83. in CA

Philippines Latest News, Philippines Headlines

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

No need for the Bank of Canada to raise rates again: CIBCBank of Canada does not need to raise its interest rate again but it might anyway. Watch CIBC economist Benjamin Tal on the economy
Read more »

No need for the Bank of Canada to raise rates again: CIBCBank of Canada does not need to raise its interest rate again but it might anyway. Watch CIBC economist Benjamin Tal on the economy
Read more »

Ontario Premier Doug Ford asks Bank of Canada to halt rate hikesFord is the second premier to make a direct appeal to BoC after British Columbia Premier David Eby sent a similar letter last Thursday
Read more »

Ontario Premier Doug Ford asks Bank of Canada to halt rate hikesAnother provincial premier is making a direct appeal to the Bank of Canada to stop raising interest rates.
Read more »

Ontario Premier Doug Ford asks Bank of Canada to halt rate hikesAnother provincial premier is making a direct appeal to the Bank of Canada to stop raising interest rates.
Read more »

Ontario Premier Doug Ford asks Bank of Canada to halt rate hikesAnother provincial premier is making a direct appeal to the Bank of Canada to stop raising interest rates.
Read more »