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Will interest rates come down in 2024? What the Bank of Canada is watching
After the Bank of Canada held its benchmark interest rate steady in its final three decisions of 2023, the tone of conversations in markets has shifted firmly away from further rate hikes and staunchly into the camp of when cuts could begin. Even Tiff Macklem, the Bank of Canada’s top policymaker, has begun to acknowledge as of late that rate cuts could be in the cards for the new year, despite ongoing warnings that the central bank is prepared to raise rates again if progress taming inflation stalls. The Bank of Canada’s rapid run-up in the policy rate — it currently sits at 5.0 per cent, up 4.75 percentage ... (full story)