AOB Financial

According to CIBC Capital Markets managing director and deputy chief economist Benjamin Tai, the BOC's overnight rate which is currently at 5% will eventually drop to 2.75% to 3%. Recent inflation rate drop, cooling market and signs of a recession are strong indicators.

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Will the Bank of Canada hold rate?

Most Economists agree that the recent rise in the unemployment rate, slowing in GDP, and some cooling in core inflation is enough to stop an additional rate hike.

The next BOC rate announcement is September 6th.