Rates Will Still Rise, But Slower—Say Analysts

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Major economists expect Canada’s overnight rate to rise to 1.25% by year end—according to a Bloomberg survey. That’s down from a May projection of 1.50%.

(The overnight rate is currently 0.50%. This rate impacts prime rate, which in turn impacts variable mortgage rates.)

Here’s a summary of what the Big 5 banks are saying about interest rates now. The consensus still seems to suggest a 1/4 point rate increase at the next July 20 Bank of Canada meeting