Reported 4 months ago
The Bank of Canada cut its benchmark interest rate by 25 basis points to 4.75% for the first time in over four years, with expectations for further cuts if inflation eases. The G7's first rate cut since 2020 was widely anticipated by economists and markets, with bets on another cut in July. The move marks a shift in the Bank's tightening cycle, with cautious optimism towards reaching the 2% inflation target. Economists predict a slow series of cuts, with uncertainty on the number of cuts remaining this year.
Source: YAHOO