“Canadian central bankers chose to roll the dice with a second consecutive 50-basis-point rate cut,” Royce Mendes, managing director and head of macro strategy atDesjardins Group, said in a note. He had been one of the outliers among economists calling for a 25-basis-point cut instead of...
'Crying out for relief': Bank of Canada to cut rates more sharply than Fed, says CIBC Watch: Avery Shenfeld, chief economist at CIBC Capital Markets, explains why deeper interest cuts will be needed Author of the article: Larysa Harapyn Published Mar 30, 2024 • Last updated Mar 30, ...
Although the market seems to have priced a similar trajectory of interest rate cuts between the Bank of Canada and the Federal Reserve, Pacific Investment Management Corporation (PIMCO) believes that since the Canadian economy has always been weak, the Bank of Canada will cut interest rates faster...
The article reports on the decision of Canada's central bank to cut its official interest rate by a half percentage point, while Australia increased rates 12 times since 2002. Accordingly, the move of Canada's central bank came just hours after the Reserve Bank of Australia raised its ...
The report further noted that a more accelerated cut would help Canada stay out of a recession as the country's labour market has shown weakness. The cuts would impact housing and other "interest-sensitive sectors," but the full effect likely wouldn't be seen until 2026. Canada still faces...
The central bank cut its overnight lending rate by a half a percentage point, to 3.25 per cent, the fifth such decrease this year
"We continue to expect one more 50-bps rate cut from the BoC this December," Claire Fan, economist at RBC wrote in a report, adding that real GDP growth was more likely to stay subdued for longer as interest rates remain restrictive until 2025. ...
The Bank of Canada’s (BoC) decision to cut interest rates by 50 basis points (bps) today, however, reflects concerns about a slowing economy and the risks of deflation. Currently, the economy is experiencing more supply than demand and prices are falling. Still, employment growth i...
The 50-basis-point cut marks the first time since the pandemic that the central bank has implemented consecutive jumbo-sized cuts. In a Reuters poll of economists, 80%, or 21 out of 27 respondents, predicted that the bank would cut the overnight rate by 50 basis points. The rest...
Breaking: Bank of Canada cuts its interest rate to 4.50% ByFXStreet Team|JUL 24, 08:00 GMT In line with market consensus, the Bank of Canada (BoC) delivered a back-to-back 25 bps interest rate cut, taking its policy rate to 4.50% (from 4.75%) at its monetary policy meeting on Wedn...