Bank of Canada governor addressed MPs on the finance committee on Thursday
Most economists expect the first rate cut to occur in May or June
The bank left its benchmark rate unchanged at a record-high 4%
Ailing sector poses a headwind to earnings, threat to credit quality
Commodity producers to hold up better than interest-sensitive regions
Declining net interest income and rising credit stress to weigh on results in 2024
Lagging effect of higher rates likely to bite this year, report says
The bank will also publish its quarterly monetary policy report on Wednesday, with new forecasts for the economy and inflation
Sluggish economic growth and the impact of higher interest rates on economic activity have sparked bets on rate cuts
The report suggested that shoppers will be able to keep fuelling economic growth this year