There is widespread anticipation that the Bank of Canada (BoC) will maintain its policy rate at 5.0% for the sixth consecutive time during its upcoming policy meeting on Wednesday.
The Bank of Canada is anticipated to keep its policy rate at 5.0%. The Canadian Dollar remains trapped within a consolidative range. Inflation in Canada has been losing upward traction since December. Investors see a 70% probability of a rate cut in June. There is widespread anticipation that the Bank of Canada will maintain its policy rate at 5.0% for the sixth consecutive time during its upcoming policy meeting on Wednesday.
While wage growth remains elevated, a majority of firms anticipate a deceleration, with 74% expecting wage growth to normalize by 2025. Regarding inflation, Governor Tiff Macklem said at his press conference in March that “we are witnessing advancements in the battle against inflation, and we anticipate more strides forward. However, if core inflation measures remain stagnant, then our predictions for overall inflation decreasing may not materialize.
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