Canadian market participants see rates staying at 5 per cent in 2023: BoC survey

The Bank of Canada will not raise rates again and will start cutting a little later than previously anticipated, according to a survey of market participants released by the central bank on Monday.

In the previous survey released in April, when the BoC's key policy rate was at 4.50 per cent, median expectation was for a rate cut in January. Money markets still see a chance for another rate hike this year. 0#BOCwatch Earlier this month, the BOC said there was excess demand in the economy as it raised its GDP forecast and extended the timeline for inflation to return to the bank's two per cent target.

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Majority of Canadian market participants see central bank holding rates at 5% in 2023: surveyThe Bank of Canada’s survey showed a median of the participants forecasting interest rates dropping to 3.50% in the fourth quarter of 2024
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