As global recession concerns mount, Canada is likely to see at least two more interest rate cuts this year, economists say, in response to persistent economic headwinds driven largely by ongoing trade tensions between the United States and China.
In a recent Reuters poll conducted from April 7 to 11, just over half of surveyed economists—15 out of 29—forecasted two additional rate reductions by the Bank of Canada (BoC) by the end of the third quarter. Such moves would bring the key policy rate down to 2.25%, the lower limit of what the BoC considers a “neutral” rate.
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