Published 12 hours ago • loading... • Updated 12 hours ago

Bank of Canada widely expected to lower key lending rate today

Today in Ottawa, the Bank of Canada will reveal its decision regarding the key interest rate amid ongoing economic uncertainties.
This decision comes after new figures showed that inflation increased by 1.9 per cent year-over-year in August, slightly under economists' forecasts, alongside signs of a slowing economy and a cooling labour market.
The central bank has held its benchmark rate at 2.75 per cent for three periods and is considering a quarter-point cut to 2.5 per cent despite persistent core inflation.
While most economists anticipate that the Bank of Canada will reduce interest rates today, RBC Economics suggests that maintaining the current rate is still a possibility due to signs of economic recovery, persistent core inflation, and concerns that fiscal stimulus could drive inflation higher.
This anticipated rate cut would respond to economic slowdown signs but faces uncertainty due to recent inflation trends and possible fiscal policy effects.

Insights by Ground AI

11 Articles

Prince George Citizen

+9 Reposted by 9 other sources

Lean Left

Bank of Canada widely expected to lower key lending rate today

OTTAWA — The Bank of Canada is set to announce its interest rate decision today, where it's widely expected to lower its key lending rate. A quarter-point cut would bring the central bank's benchmark rate down to 2.

12 hours ago·Prince George, Canada

Read Full Article

L’actualité

Center

Bank of Canada to Lower Policy Rate on Current Affairs

OTTAWA—The Bank of Canada must announce its decision on interest rates on Wednesday, and should lower its policy rate. A quarter-point decrease would reduce the central bank's policy rate to 2.5% after three consecutive maintenances to 2.75%. The bank has obtained a last-minute overview of the most recent [...]

14 hours ago

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year