According to the latest Reuters poll, the Bank of Canada (BoC) overnight rate is seen climbing twice more, reaching 2.25% by year-end and staying there through at least mid-2020.
Economists, however, were less confident about BoC rate hike path this year and expect that the Canadian central bank will not reach the bottom end of the neutral range any time soon.
The poll further revealed a sharp cut in the economic growth forecasts for the quarter through December, at 1.6%, and the first three months of this year, now seen at 1.3%, as compared to 2.2% and 2.0% respectively in the October survey.
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