The Bank of Canada is expected to keep its key overnight rate on hold as it gathers more evidence of cooling inflation before delivering its first interest rate cut in four years.
Everything to know about the April 8 eclipse in Atlantic Canada | SaltWire #eclipse | SaltWireOTTAWA - The Bank of Canada is widely expected to keep its key overnight rate on hold Wednesday, as it gathers more evidence of cooling inflation before delivering its first interest rate cut in four years, which the money markets bet could come as early as June.
An immigration-driven population growth has sparked an unprecedented housing shortage in Canada, and many first-time home buyers and renters are waiting in the wings to jump back into the market as borrowing costs fall from a 22-year peak. In a Reuters poll, more than 70% of economists, 27 out of 38, expected the BoC to deliver its first rate cut in June, in line with market pricing. Seven predicted the first cut would come in July, and the remaining four said September.
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