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MNI BRIEF: Former BOC Dep Beaudry Sees 2.75%-3% Rate In 2025

Bank of CanadaCentral Bank NewsPolicy NewsHomepageCanadaBriefStoryNorth America

MNI (OTTAWA) - Former BOC Deputy Paul Beaudry said Wednesday he expects the policy interest rate to decline by another quarter or half point next year from the current 3.25%. The BOC cut by a half point for a second meeting Wednesday.

That will take the overnight rate into a neutral range, and officials will then likely be “taking a pause and seeing how all of this plays through,” he said during a webinar hosted by the Bennett Jones law firm. The rate reduction will likely take place early in 2025, he said. Beaudry was accompanied on the session by former Governor David Dodge, a senior adviser at the firm. (See: MNI INTERVIEW: BOC Faces Recessionary Risk On Tariff Hit: Lane)

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MNI (OTTAWA) - Former BOC Deputy Paul Beaudry said Wednesday he expects the policy interest rate to decline by another quarter or half point next year from the current 3.25%. The BOC cut by a half point for a second meeting Wednesday.

That will take the overnight rate into a neutral range, and officials will then likely be “taking a pause and seeing how all of this plays through,” he said during a webinar hosted by the Bennett Jones law firm. The rate reduction will likely take place early in 2025, he said. Beaudry was accompanied on the session by former Governor David Dodge, a senior adviser at the firm. (See: MNI INTERVIEW: BOC Faces Recessionary Risk On Tariff Hit: Lane)