Bank Of Canada seen starting to cut interest rates in April, survey finds

The survey showed a median of 27 financial participants expect interest rates to drop to 4% in the fourth quarter of 2024, up from an expectation of 3.50% in the previous survey released in July

to start cutting its key policy rate from a 22-year high of 5.00 per cent in April 2024, a month later than the previous forecast, according to a survey released by the central bank on Monday.

The survey was conducted from Sept. 20-28 – before official data showed Canada’s annual inflation rate unexpectedly slowed to 3.8 per cent in September and the economy likely slipped into a shallow recession in the third quarter.

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