Where will interest rates go in 2023?

The good news is that interest rates likely won’t be going up much, if at all, in 2023. The bad news? Don’t count on them coming down any time soon, either.

After a year in which the Bank of Canada raised its key overnight lending rate seven times in an attempt to slow down soaring inflation, most experts believe the Bank is set to take a breather in 2023. That means the interest rates Canadians are paying on everything from mortgages to lines of credit probably won’t be going up much, but aren’t about to drop.

By Josh Rubin Business Reporter - Read the full article in The Star

Tue., Dec. 27, 2022