The Bank of Canada may ease its rate-cutting cycle due to government stimulus cheques expected to boost the Canadian economy. Economists predict about half of Canadians will spend the money, potentially strengthening the economy and reducing the need for future rate cuts.
The Bank of Canada is expected to continue its rate-cutting cycle but at a potentially slower pace due to anticipated stimulus cheques from both federal and provincial governments. Economic forecasts suggest that, out of the expected cheques, about half of Canadians will save and pay down debt, while the other half will inject money into the economy. This may result in a stronger economic performance and fewer rate cuts than previously anticipated.
The Bank is forecasted to cut interest rates by 25 basis points in December and possibly again in January
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