US EditionThe Boc Will Keep Rates Stable This Week; It Will Cut Them Twice as Much in the Year
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Y Media Business and Wealth Report: Rate cut unlikely, but not impossible, says CIBC’s Shenfeld ahead of Bank of Canada decision - South Asian Daily
Avery Shenfeld, Chief Economist at CIBC, says he doesn’t expect the Bank of Canada to cut its benchmark interest rate this Wednesday — but if it does, he says it would be a “pleasant surprise.” “There’s always a chance they’ll surprise us,” Shenfeld said. “But I’m not holding out much hope.” Most economists agree: they believe the Bank will keep the current policy rate steady at 2.75% for the third time in a row. As of Friday afternoon, financia…
The Bank of Canada (BoC) will keep its interest rate stable at a one-day rate of 2.75 percent on July 30 for the third consecutive meeting thanks to a recent rise in inflation and a fall in unemployment, according to a Reuters poll that still showed that at least two more cuts are expected this year.The Canadian central bank has cut rates by a total of 225 basis points (pb) since June 2024, but has held them in abeyance since March as policymake…
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