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Published 10 days ago

Bank of Canada officials split on when to start cutting interest rates, summary shows

  • Bank of Canada's governing council is divided on the timing of interest rate cuts, with concerns about the pace of reductions when they do occur.
  • A rate cut at the next meeting on June 5 is uncertain, as members have differing opinions on when economic conditions will warrant it.
  • Dovish members emphasize the need for gradual easing due to economic indicators, while hawkish members believe the Canadian economy is stronger than anticipated, lessening the urgency for immediate rate cuts.
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