2024 Interest Rate Forecast Canada. — looking ahead, the bank of canada may reduce its policy interest rate to 3.75% by the end of 2024, with further cuts potentially bringing it down to 2.75% by the close of 2025. — all interest rate announcements will take place at 10:00 (et), and the monetary policy report will be published concurrently with the january, april, july and october rate.
The bank of canada interest rate influences the cost of borrowing for consumers and businesses, which can impact spending and investment decisions. — statistics canada data showed second quarter annualised growth came in at 2.1%, above the 1.6% expected by markets and the 1.5% forecast by the bank of canada (boc).