Canada: interest rate hikes, the end?
The Parliamentary Budget Office expects that the Bank of Canada will cease increasing interest rates, while also predicting a 1% expansion in the economy for 2023.
One year after the Bank of Canada's aggressive rate hike cycle began, economists widely expect the central bank will stick to its plan of holding its key interest rate steady at its next scheduled announcement.
The most recent inflation data suggests the country is inching closer to normal price growth. Canada's annual inflation rate slowed to 5.9% in January, down from the peak of 8.1% reached in the summer.
The statement can strengthen the US dollar vs the Canadian dollar in the medium - long term.
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