According to the Bank of Canada's (BoC) minutes from the October 2024 meeting that was released Wednesday, the governing council felt upside pressures on inflation will continue to decline, so the monetary policy did not need to be as restrictive.
Bank of Canada (BoC) Governor Tiff Macklem said on Friday that if population growth slows faster than assumed, the headline Gross Domestic Product (GDP) will be lower.
There may have been some headline uncertainty going into this decision, but markets and economists were clearly leaning towards this outcome.
The Bank of Canada (BoC) aligned with market expectations by implementing a 50-basis-point interest rate cut at its Wednesday meeting, lowering the policy rate from 4.25% to 3.75%.
As expected by market participants, the Bank of Canada (BoC) implemented a third consecutive 25 basis points interest rate cut at its monetary policy meeting on Wednesday, reducing its policy rate from 4.50% to 4.25%.
In line with market consensus, the Bank of Canada (BoC) delivered a back-to-back 25 bps interest rate cut, taking its policy rate to 4.50% (from 4.75%) at its monetary policy meeting on Wednesday.
There is universal anticipation that the Bank of Canada (BoC) will reduce its policy rate by 25 bps at its upcoming gathering on Wednesday, June 5.
The Bank of Canada is the nation's central bank. Its principal role is "to promote the economic and financial welfare of Canada," as defined in the Bank of Canada Act. The Bank’s four main areas of responsibility are:
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Tiff Macklem was born in Montréal, Quebec, in 1961. He was appointed Governor of the Bank of Canada, effective 3 June 2020, for a seven-year term. He is the tenth governor of the Bank of Canada. As Governor, he is also Chairman of the Board of Directors of the Bank for International Settlements (BIS). He currently chairs both, the BIS Audit Committee and the Consultative Council for the Americas.
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.
