Zakiya is a staff writer with STOREYS. She has reported on real estate for Apartment Therapy, Curbed, and Post City Magazines. She also writes a quarterly series for a Canadian design publication.
With the next Bank of Canada interest rate announcement slated for tomorrow morning, the speculation is rampant, with some experts convinced that we will finally see the first cut of the cycle.For the past two years and change, there have been few weeks, if any, without interest rate fodder in some capacity.
What Holt is referring to is messaging thus far from the central bank. For instance, at the last post-rate-announcement press conference held on April 10, Macklem did not give a concrete indication that the June meeting would culminate in a cut, only admitting that a June cut was“What is on our mind is that the decline we've seen in momentum is very recent.
Although CIBC is not ruling out a rate pause entirely, Shenfeld underlined that “the case for standing pat seems much weaker, particularly since the vast majority of forecasters, and market pricing, fully expects that taking a pass in June would only be about doing the same rate cut in July.”that he needs to see more progress towards 2% inflation, and won’t go against his own word, Shenfeld said that onlookers are “splitting hairs.
“Further, in the recent summary of deliberations, some council members stressed that the risk was lower that higher rates would slow activity more than necessary. In an effort to increase transparency and forward guidance, the Bank can use next week to tee up a July rate cut, while allowing themselves to see two more inflation prints to confirm that durable 2% price growth is in sight.
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