When will the Bank of Canada lower interest rates? I asked this question of the Governor of the Bank of Canada at the Standing Committee on Finance
November 6, 2023
When will the Bank of Canada lower interest rates? That’s the question many of you, especially those with mortgages, have asked me. I asked this question of the Governor of the Bank of Canada at the Standing Committee on Finance.
The response in a nutshell: The Bank of Canada’s priority is to fight inflation, so interest rates will come down when it becomes clear that inflation is on its way down to the target level of 2%.
For more details on the bank’s forecast for inflation and interest rates you can watch my full exchange with the Senior Deputy Governor below.
