OTTAWA — The Bank of Canada will release its interest rate decision and monetary policy report on Wednesday.
Here are five things to look for in the decision and updated economic forecasts from the central bank:It is widely expected by economists and financial markets that the central bank will slash its key interest rate target on Wednesday, but there is some debate as to how much it will cut. The central bank's policy interest rate is currently set at 4.25 per cent.
In addition to its interest rate decision, the Bank of Canada will release its updated forecasts for the economy in its monetary policy report. The Canadian economy has continued to grow modestly, however real gross domestic product has shrunk on a per-capita basis for five consecutive quarters. The labour market has also eased with the unemployment rate in September at 6.5 per cent, up a full percentage point from a year earlier.The annual pace of inflation cooled to 1.
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