The Globe and Mail reports in its Tuesday, Feb. 6, edition that Canadian market participants expect the Bank of Canada to start lowering its key policy rate from a 22-year high of 5 per cent in April, the same as their previous forecast, according to a survey released by the central bank on Monday.
A Reuters dispatch to The Globe reports that the BOC's fourth quarter survey of Canadian market participants, which includes economists and financial strategists, was conducted from Dec. 18 to Dec. 29 -- before official data for December showed an acceleration in inflation.
By the end of 2024, the market experts' median forecast is for the policy rate to come down to 4 per cent, the same as their forecast in the previous survey released in November.
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