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Could Interest Rates Go Down In The Near Future In Canada?

Blog by | October 26th, 2016

BMO Financial Group chief economist Douglas Porter said the BOC could cut rates because of its grim economic outlook. “The Bank has cut its GDP forecast heavily, slashed its core inflation outlook, sounds much more concerned about the medium-term prospects for exports, frets about domestic competitiveness, looks for a 0.3% slice in GDP from the housing measures and doesn’t see the output gap closing for almost two years,” Porter said in a note to investors. “This is a Bank that has precisely zero appetite for rate hikes, and seems to be keeping a flame alive for the possibility of rate cuts should the need arise.”

Alexandra Axsen
Lake Okanagan Realty Ltd.
Owner/Managing Broker
Tel: (250) 870-2792
Email: Alex@LakeOkanaganRealty.com