Reported 8 months ago
Bank of Canada officials considered waiting until July to cut interest rates in order to confirm if inflation is still on track to reach the central bank’s 2% target. The six-member governing council deliberated on waiting for more consumer price data to gain further assurance before initiating monetary policy loosening, ultimately deciding to cut the policy rate to 4.75% at their June 5 meeting. They agreed that future rate cuts would depend on incoming data and noted the potential divergence in interest rate paths between Canada and the US could affect the exchange rate.
Source: YAHOO