The Bank of Canada will get its last look at inflation figures this week before deciding whether to deliver back-to-back rate cuts on July 24.
WATCH: Canada ’s inflation rate accelerated to 2.9 per cent in May from 2.7 per cent the previous month, driven by higher prices for services. Anne Gaviola has more on what’s stressing Canadian households and what this means for the country’s central bank and interest rate expectations this summer – Jun 25, 2024Statistics Canada is set to release its consumer price index figures for June on Tuesday.
Tiff Macklem, the central bank’s governor, said then that Canadians can expect to see more interest rate cuts as long as inflation continues to cool according to the Bank of Canada’s forecasts.Interest rate cuts ‘reasonable’ to expect if inflation lines up with Bank of Canada’s expectations: Macklem Shenfeld says the central bank will be watching its preferred measures of core inflation, which also accelerated in May, for signs of renewed cooling. If monetary policymakers see that, it “leaves the door open for them to cut rates again this month.”Trump shooting witnesses say they tried to warn police of rooftop gunman
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