• Post author:
  • Post category:General
  • Post last modified:July 24, 2024
  • Reading time:1 mins read
Home » General » Bank of Canada Is Expected to Cut Interest Rate Today

This post may contains affiliate links. As an amazon associate I earn from qualifying purchases.

Bank of Canada Is Expected to Cut Interest Rate Today

The Bank of Canada is expected to announce a rate cut today at 9:45 a.m. ET. In June, the central bank cut the benchmark rate to 4.75%, the first reduction in over four years. With inflation easing to 2.7% and the economy’s sluggish growth, economists widely predict another cut.

The unemployment rate rose to 6.4% in June, and money markets have priced in an 86% probability of a 25 basis point cut. A Reuters survey shows that 22 out of 30 economists expect the rate to drop to 4.5% today. Read more

This post may contains affiliate links. As an amazon associate I earn from qualifying purchases.