One veteran economist says he expects the Bank of Canada to lower its key policy rate by 25 basis points Wednesday while signalling more cuts ahead, but says he disagreed with the consensus around a soft landing.
David Rosenberg, founder and president at Rosenberg Research and Ed Devlin, founder of Devlin Capital and senior fellow of C.D. Howe Institute and former head of Canadian Portfolio Management at PIMCO, joins BNN Bloomberg and talks about their thoughts of BoC widely expected to cut rates this week.
“I think that the bank will cut 25 basis points and the press statement will leave the door open for more and probably a lot more,” David Rosenberg, the founder and president of Rosenberg Research, said in an interview with BNN Bloomberg Tuesday. “The financial markets are largely anticipating a 25 bps cut. Some economists are calling for 50 bps, which would signal that economic conditions are much worse than previously thought,” she said.
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