Interest rates could come down when economic slowdown happens, strategist says

Warren Lovely, chief rates strategist at National Bank Financial, is predicting an economic slowdown by the end of the year and into 2024, and when that happens, he believes the Back of Canada will then begin bringing the rates down.

Warren Lovely, chief rates strategist at National Bank Financial, is predicting an economic slowdown by the end of the year and into 2024, and when that happens, he believes the Back of Canada will then begin bringing the rates down.

“That will set up a situation where we’re taking back the rate hikes,” he told BNN Bloomberg Tuesday.

“I think what we can expect is as inflation does get under control, as the economy cools – as we believe it will – it will have an opportunity for lower interest rates down the road.”