2024-03-07 11:40:00 ET
Summary
- Bank of Canada held its key interest rate steady at 5%, saying more time is needed for higher rates to bring inflation back to target.
- Maria Solovieva, Economist at TD talks about why a June rate cut is still likely.
- If nothing changes in the dynamics of the economy, if we see a slow progress towards deceleration of inflation, then we will likely see 25-basis point cuts throughout the rest of the year.
Originally Posted on March 6, 2024
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Bank of Canada Keeps Benchmark Rate At 5%