As anticipated, the Bank of Canada has cut its benchmark rate 25 basis points for the second time. The benchmark now stands at 4.5% with the Bank signaling more cuts to come.
If you want to read more, click here https://globalnews.ca/news/10640354/bank-of-canada-interest-rate-july-2024/
In a country with worse inflation than the U.S. this baffles me
I think the inflation rate is lower than the US now but it is more about the fact that the job market is rolling over.
This is true. Good point.
Canada's unemployment rate:
June 2022: 5%
June 2023: 5.4%
June 2024: 6.4%
👀
This is why the rate cuts even though inflation is 2.7%
Related: #622276
that won't be the last time either. the Canadians clearly belong to the european Union in terms of economic policy design and ideology. it's going downhill here too, too bad, it was a very nice country
I think Canada needs to be below 3%. Still long way to go!
They are cutting it again?
How is that possible?
These are good signs and I hope it continues for my Canadian friends.