The Bank of Canada will cut its overnight interest rate on Wednesday by 25 basis points to 4.50% amid expectations that inflation will continue to fall...
BENGALURU - The Bank of Canada will cut its overnight interest rate on Wednesday by 25 basis points to 4.50% amid expectations that inflation will continue to fall, according to a large majority of economists polled by Reuters.
The Canadian central bank trimmed borrowing costs last month, marking its first rate cut in four years. After July, the BoC will cut its policy rate twice more this year, to 4.00% by the end of 2024, according to a slight majority of economists in the poll - 16 of 30. While 10 of them expected the rate to be at 4.25% or higher, only four predicted it would reach 3.75%.The Canadian central bank may gain more confidence if the once red-hot housing market remains relatively calm.
Nearly 70% of economists in the poll, 11 of 16, said the end-2024 overnight rate was more likely to be higher than they expect rather than lower. Five said the opposite. Prosecutors would face deeply unfavorable odds at getting the Donald Trump-nominated judge from the case if it is ever revived.Multiple people were grievously injured during last week's shooting in Pennsylvania, while Donald Trump escaped with a bloodied ear.
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