Central Banks
Fiera CEO Says Bank of Canada Has Clear Path to 3% Interest Rate
- Jean-Guy Desjardins expects BOC to cut rates by 175 bps
- Currency market’s reaction to easing cycle has been muted
The Bank of Canada in Ottawa, Ontario.
Photographer: Kamara Morozuk/BloombergThis article is for subscribers only.
The head of one of Canada’s biggest asset managers says “the conditions are right” for the Bank of Canada to cut its policy interest rate to around 3% by the end of next year.
Fiera Capital Corp. Chief Executive Officer Jean-Guy Desjardins said markets “have not dramatically or significantly reacted” to signals that the central bank is poised to lower its benchmark rate from the current 4.75% to a “neutral stance.”