Interest rate hikes have reached their highest point according to the chief economist at Regina-based Farm Credit Canada.
FCC chief economist J.P. Gervais forecasts interest rate hikes have plateaued.
But he doesn’t expect any reduction in rates early in the new year, and feels the rates will remain at the current level for most of 2023.
Gervais anticipates an economic slowdown in the coming year but says its too early to determine if a recession is on the horizon.
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