Interest rate cuts are coming, but the Bank of Canada won’t say when

The Bank of Canada has decided to keep its key overnight lending rate at five per cent due to concerns about persistent inflation. Economists expect interest rates to start falling by the summer, but the bank has not provided a specific timeline. The central bank is cautious about offering guidance due to past experiences with forward guidance. The bank faces challenges in finding the right balance in communicating with the public, especially in the current uncertain global environment.