Future Interest Rate Moves – June 1, 2023
Canada’s Gross Domestic Product (GDP) is showing underlying strength. April saw growth in the GDP and there is modest growth expected for the second quarter in Canada.
The strength of housing is surprising to many economists given the recent increase in interest rates.
Based on all this the expectation is that the interest rate will not see a change on June 7 when the Bank of Canada has its next rate assessment meeting. There is the possibility that rates will increase later in the year if inflation does not come down further.