Bank Of Canada To Drop Interest Rate To 2.5% By 2025: TD

TD predicts that the Bank of Canada will lower its policy interest rate to 2.25% by 2025, providing relief to borrowers with high mortgage payments. Despite some mortgage terms already falling below 5%, nearly 50% of mortgage holders could see increased payments by end of 2024. Higher rates have led to a $6B economic reduction. However, TD forecasts a decrease in inflation in the coming years.

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