The Bank of Canada predicts that interest rates will fall to 4.25 percent by the end of 2024.

 

According to Oxford Economics, the Bank of Canada's interest rates may be trimmed for the first time this year after the start of the Covid epidemic and a series of surprise hikes last year. The five percent rate was initially announced in July 2023. Later, the interest rate remained at 5%.

According to Oxford Economics, interest rates will remain at 5% until mid-2024, after which they will fall to 4.25 percent by the end of the year. According to Oxford Economics, it may take several years for rates to gradually rise to a neutral level of 2.25 percent.