Economists now see a soft landing for the Canadian economy, with no recession this year despite interest rates at a 22-year high.
The economy will stall in the second half of 2023 but it won’t contract, according to a monthly Bloomberg survey of 27 economists. The median forecast sees the Bank of Canada holding its overnight rate at 5% well into next year — with no rate cuts until April.
Read More : Bank of Canada Predicted to Maintain 5% Interest Rate Amidst Resilient Economy