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With inflation hovering around 2 percent and an economy characterized by excess supply, coupled with recent indicators suggesting growth weaker than initially projected, the Bank of Canada announced a much-anticipated decision on Wednesday to cut interest rates by an additional half percentage...
A large consensus is that the Bank of Canada (BoC) is expected to cut interest rates another time by 50 basis points today, from 3.75% to 3.25%, Commerzbank’s FX analyst Antje Praefcke notes.
Prior rate was 3.75% after 50 bps on October 23
Economists widely expected a 50 basis point rate cut
The market was pricing in a 90% chance of a rate cut
Prior statement said " If the economy evolves broadly in line with our latest forecast, we expect to reduce the policy rate further" but that...
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