Canada Economics

Canada Economics Update

9 January, 2019

Bank’s forecasts still too optimistic

Despite slashing its economic growth forecast to below potential, the Bank of Canada reiterated today that it judges that more rate hikes will be needed to ensure that inflation remains in line with target. But if we’re right that even the Bank’s new lower GDP growth forecasts will prove too optimistic, then interest rate cuts are more likely than further hikes.

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