Bank of Canada Cuts Rates Amid Slowdown as U.S. Dollar Strengthens
Introducing the November 2024 edition of our Chartbook Market Comment slides.
In October, the Bank of Canada cut its rate by 50 basis points to 3.75% due to slowing growth and 1.6% inflation. Though cuts may continue, the rate remains restrictive, with expectations to reach 2.75%—a neutral level. If growth stays weak, further cuts are likely.
Meanwhile, stronger US growth and a higher Fed rate, about 1% above Canada’s, have weakened the Canadian Dollar, driving the CAD/USD exchange rate to its lowest since early 2020… CONTINUE READING.
Connect with Us
As always, your financial well-being is our priority. If you have any questions or would like to discuss anything related to the Chartbook, our Portfolio Managers and dedicated team members are here for you. Feel free to reach out, and let’s navigate the markets together.
Your team at OceanFront Investment Counsel Inc.
