Bank of Canada: Rates likely to remain at 4.5% this year, before easing in 2024 – CIBC – by MSalordFX BOC Banks USDCAD
will stay at 4.5% throughout the balance of this year, before being eased gradually in 2024.“The Bank of Canada hiked interest rates one more time, but gave a more explicit signal than anticipated that it was now moving onto the sidelines. The 25bp increase, taking the overnight rate to 4.5%, was well anticipated by the consensus.
“We had expected that today's 25bp move would be the final one for this cycle, and the change in the Bank's guidance only reaffirms that belief. Even though there is still a slight bias within its communication towards raising interest rates further, today's statement suggests that the Bank will sit on the sidelines for now and wait for the accumulation of a few month's worth of data rather than necessarily reacting to near-term surprises.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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