The Bank of Canada is widely expected to reduce its key policy rate by 50 basis points on Wednesday, its fourth cut in a row and what would be the first...
OTTAWA - The Bank of Canada is widely expected to reduce its key policy rate by 50 basis points on Wednesday, its fourth cut in a row and what would be the first super-sized reduction in more than 15 years outside of the pandemic era.
BoC Governor Tiff Macklem said last month that the bank had to increasingly guard against the risk of a hobbled economy and inflation sliding too much, indicating a possibility of bigger cuts. Headline inflation for September came in at 1.6%, below the bank's mid-point of its 1% to 3% target range, but consumer and business spending has not improved, the housing market has stagnated and the economy has sputtered.
The monetary policy report will have "an acknowledgement that the economy hasn't been as strong as they've been indicating," David Doyle, head of economics at Macquarie, said. TEL AVIV, Israel — Israel’s killing of Yahya Sinwar, Hamas’ top leader and the mastermind of the group’s Oct. 7 attack, is a dramatic turning point in the brutal yearlong war that it touched off.
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