Bank of Canada Leads G7 with Rate Cut Amid Cooling Economy
Introducing the June 2024 edition of our Chartbook Market Comment slides.
On Wednesday, the Bank of Canada cut its policy interest rate by 25 basis points to 4.75% due to sluggish GDP data and cooling inflation, becoming the first G7 nation to do so this cycle. Following the decision, the Loonie fell against the US Dollar, and Government of Canada bond yields dropped across the curve. Markets expect another 25 basis point cut this year, with more likely in 2025. Governor Tiff Macklem noted that future cuts will depend on inflation trends, aiming for an annual rate of 2%… CONTINUE READING.
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