July 21, 2024

Political Commentary

News Politics Business Sports

Economists say BoC could cut interest rates again in July if inflation keeps cooling

2 min read

Article content

OTTAWA — Economists are forecasting inflation slowed further in May, which would be welcome progress for the Bank of Canada after it cut its key lending rate for the first time in four years.

Tuesday’s report from Statistics Canada will offer the first inflation reading after the Bank of Canada delivered a quarter-percentage-point rate cut on June 5, bringing its benchmark rate to 4.75 per cent. Economists say the new data could set the stage for another cut in July.

Advertisement 2

The Canadian Press

2024-06-23 06:01:34

All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator


Read more from original source here…

Leave a Reply

Copyright © All rights reserved. | Newsphere by AF themes.