One last hold: Economists expect another interest rate pause
BNN Bloomberg
As the Bank of Canada is largely expected to hold interest rates at its announcement on Wednesday, economists expect it could be the last in a string of pauses.
Economists tracked by Bloomberg unanimously believe the Bank of Canada will hold interest rates at five per cent for a seventh straight announcement. However, just five of 13 economists are predicting another hold at the central bank’s next announcement on June 5, with the remaining anticipating a cut to 4.75 per cent.
Francis Fong, managing director and senior economist at TD Economics, also believes the Bank of Canada is in for at least one more hold before cutting in the summer.
“I don't think anyone admires the Bank of Canada's position right now,” he told BNN Bloomberg in a television interview on Tuesday.
