Following the Bank of Canada’s latest policy announcement Wednesday morning that saw the central bank deliver a jumbo 50-basis-point cut to its key interest rate, two experts joined BNN Bloomberg to discuss the economic impacts of the decision.
The Bank of Canada cut its interest rate by 50 bps. Warren Lovely, chief rates strategist of National Bank Financial joins us to talk about it.
“I think they have some catching up to do… interest rates are still dragging down the economy and it takes time for interest rate hikes or cuts to make their way through the real economy.”. The bank had lowered rates by 25 basis points at its last three decisions prior to Wednesday’s. “We saw a brief, maybe, reprieve in the weaker unemployment rate story that has really been a narrative for about 18 months now,” he said.
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