Bank of Canada Expected to Cut Interest Rates
The Bank of Canada is likely to cut interest rates to help an economy suffering from U.S. tariffs, ahead of Prime Minister Mark Carney's budget.
According to Bloomberg, markets and economists expect officials led by Governor Tiff Macklem to lower the benchmark overnight rate by 25 basis points, bringing the policy rate to 2.25%, the lowest since July 2022.
- Traders in overnight index swaps were pricing in a greater than 80% chance of a cut as! of Tuesday morning.
- Canada's economy is still reeling from the trade dispute with the U.S.
The Bank of Canada is likely to cut interest rates to help an economy that’s suffering more damage from U.S. tariffs.
Author's summary: Bank of Canada may cut interest rates due to US tariffs impact.
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