Bank of Canada set to cut rates, update forecasts on inflation, GDP

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Bank of Canada set to cut rates, update forecasts on inflation, GDP
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The Bank of Canada (BoC) is widely expected to trim its key overnight rate by 25 basis points on Wednesday amid slowing inflation, a weak job market and...

OTTAWA - The Bank of Canada is widely expected to trim its key overnight rate by 25 basis points on Wednesday amid slowing inflation, a weak job market and tepid economic growth , economists and analysts said.

The bank will announce its monetary policy decision at 9:45 a.m. ET . It will also release its quarterly Monetary Policy Report, which will include fresh forecasts on 2024 economic growth and inflation. One person was killed and three others injured at Cambodia’s famed centuries-old Angkor temple complex after a large tree was blown down onto their vehicle during a fierce rainstorm, a government statement said Wednesday. The accident occurred late Tuesday afternoon at the southern gate to Angkor Thom, which is near the more famous Angkor Wat temple and part of the same archaeological complex in the northwestern province of Siem Reap, about 200 miles northwest of the capital, Phnom Penh.

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