Bank of Canada Cuts Rates Again as Inflation Declines
Introducing the September 2024 edition of our Chartbook Market Comment slides.
The Bank of Canada has reduced its policy overnight rate by 25 basis points to 4.25%, marking a continued decline from the peak of 5.0% earlier this year. With inflation now within the Bank’s target range of 1%-3%, attention is expected to shift towards supporting economic growth and employment. While inflation and GDP growth remain aligned with expectations, wage growth and shelter prices remain elevated. Market forecasts anticipate further rate cuts through mid-2025, although inflationary pressures or negative GDP shocks could alter the pace of future rate adjustments… CONTINUE READING.
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