The Bank of Canada is expressing more confidence that its rate hikes to date are slowing the economy and inflation, but experts are split on whether the central bank will nail a “soft landing” and avoid a deep recession.
Canadian stocks and bonds have rallied as investors bet on interest rate cuts as soon as next spring, but experts say the Bank of Canada is leaving the door open to future hikes in a bid to rein in market expectations.
Canada's merchandise trade surplus grew to $3 billion in October as imports fell and exports edged higher, Statistics Canada said Wednesday.
Experts say interest rate hikes may be over as the Bank of Canada holds its trendsetting rate at five per cent, but caution that it may be some time yet before the central bank starts to cut rates.
The Bank of Canada has held its benchmark interest rate at five per cent. Read the central bank's full statement on its decision.
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