The Bank of Canada will keep its key interest rate on hold at 4.50% for the rest of this year, according to economists polled by Reuters, who said the bank was more likely to sound a hawkish tone on March 8 than dovish as inflation remains a worry.
A slowing housing market, weak business investment and consumer spending and data showing a halt to economic growth at the end of 2022 suggest 425 basis points of BoC rate hikes over the past year are starting to take hold.
