👉Financial analysts are predicting three increases in Canada's interest rate this year, which could have some major effects on the economy and the average Canadian. Banks are calling for an increase of 50 base points — with 1 base point equaling 0.01 of a percentage point — three times over the coming months. What this means is that we could see an interest rate increase from the current 0.50% to around 2% by the time July rolls around. After that, they are expecting it to go down to a 0.25% per rate announcement, which could mean an interest rate of around 3% to 3.25% by March 2023.✅ . . #interestrate #interestrateincreasing #malayalisnearme #canadianbanks #dailynews #dailynewscanada #malayalisnearmeapp #canadianeconomy

👉 The Bank of Canada announced its decision to leave its policy rate unchanged at 4.5%, in line with market expectations. The central bank also maintained its guidance on the path of interest rates, stating that it will remain patient in deciding when to raise them further. The decision was driven by a cautious approach towards the ongoing inflationary pressures and uncertainty surrounding the economic recovery from the pandemic.✅ . . #bankofcanada #BOC #BOCinterestrate #interestrate #canadianbanks #banking #BOCinterestpolicy #mnm #malayalisnearmeapp #canadaupdate #canadanews