OTTAWA (Reuters) – Canadian market participants expect the Bank of Canada (BoC) to start lowering its key policy rate from a 22-year high of 5% in April, the same as their previous forecast, according to a survey released by the central bank on Monday.

The bank’s fourth-quarter survey of Canadian market participants, which includes economists and financial strategists, was conducted from Dec. 18 to Dec. 29 – before official data for December showed an acceleration in inflation.

By the end of 2024, the market experts’ median forecast is for the policy rate to come down to 4%, the same as their forecast in the previous survey released in November.

(Reporting by Ismail Shakil in Ottawa; Editing by Promit Mukherjee)

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