Although Canadians want a rate cut in 2024, the Bank of Canada governor says it is still too early to consider a cut.
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During her final speech of the year in Toronto, Tiff Macklem mentioned that she wasn't thinking about cutting interest rates any time soon.
However, the governor questions whether the current rate increases are enough to target an inflation rate of 2%.
“If we are convinced that price stability will be restored, we will consider cutting the key interest rate at the best time. I know it's tempting to talk about these cuts, but it's too early to think about them,” comments Bank of Canada Governor Tiff Macklem.
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