The Bank of Canada will make an announcement about interest rates on Wednesday. It is expected that they will not change the rate this time. However, economists will be paying close attention to what the bank says in their statement about their plans for the rest of the year.
In January 2022, the Bank of Canada announced its eighth consecutive rate hike and said that they would pause for a while to see how the economy responds to the higher borrowing costs. However, they also made it clear that they might raise rates again if the economy keeps doing well or if inflation remains high. So what do you think? Rates gonna go up on wednesday or are they gonna pause? Who you work with matters.