Remember when experts believed interest rates would hit 1.5% at year’s end? FCC 2022 Economic Year in Review
As elsewhere, experts believed Canadian rate hikes would happen in 2022, moving the overnight interest rate (OIR) from the then-current 0.25% to end the year at 1.5%. By month-end, markets expected the overnight rate to end the year near 2.25%. AugustNew OECD projections to 2031-32 supported suspicions that crop prices had peaked in the 2021-22 MY. Statistics Canada production estimates showed that the corn crop would be the largest in history. France’s drought-reduced 32-year low in corn production was worsened by newly downward-revised expectations for Ukraine’s corn production.
Source: CBC News December 19, 2022 22:08 UTC
