Inflation Battle Continues: Central Banks Hold Steady as Tax Changes Loom
Introducing the May 2024 edition of our Chartbook Market Comment slides.
The battle against inflation continues, as central banks anticipated rate cuts to follow its decline. However, stubborn inflation has led the Bank of Canada and Federal Reserve to maintain high policy interest rates for now. In April, the Bank of Canada held its policy rate steady at 5.0%, citing expectations of global economic growth outpacing Canada’s current rate. Meanwhile, the Government of Canada proposed significant changes to taxation in its 2024 budget, including a notable increase in the taxation of capital gains for corporations and individuals, pending parliamentary approval… CONTINUE READING.
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