Posted 2/28/2024, 12:30:00 PM
Bank of Canada Expected to Hold Interest Rates Steady at 5% in March Meeting As Inflation Cools
- Bank of Canada (BoC) to issue interest rate update on March 6; expected to hold key rate at 5%
- BoC raised rates 7 times in 2022 and once in January 2023 to get to 5%
- Inflation eased to 2.9% in January on a year-over-year basis
- Industry experts predict another rate hold is coming at this meeting
- Commentary from BoC could shift bond yields and impact fixed rates and variable rates
