Posted 1/17/2024, 8:34:00 PM
Bank of Canada Expected to Hold Interest Rates Steady in First 2023 Update
- Bank of Canada announcing first interest rate update of 2023 on January 24
- BoC held rate at 5% in December after 7 hikes in 2022 and another in January 2023
- Experts predict another rate hold is likely at the January announcement
- Inflation rose to 3.4% in latest data, reducing hopes of a rate cut but not indicating a hike
- Fixed mortgage rates could rise if BoC signals openness to further rate hikes, slowing housing market