Investors and businesses should get used to interest rates hovering around these levels for at least the next year, according to the head of Canada’s second-largest insurer.
“I don’t believe that you’re going to see the types of increases that we saw last year where rates went up so rapidly, but I do believe that you’re going to see rates be somewhat stubborn where they are, and could go up a little bit or even down a little bit,” Kevin Strain, president and chief executive officer of Sun Life Financial (SLF.TO) (SLF), told Yahoo Finance Canada in a phone interview.
“It’s a little bit hard to predict what will happen but I think you’re going to see them stabilize more closely to where they are today for at least a good 12 months.”
Read More : Sun Life CEO Predicts Interest Rates to Reach a Stable Level