As this is being written, derivatives markets imply an 80 per cent chance of a 25-basis-point Bank of Canada rate cut on Wednesday, according to Refinitiv Eikon. This would take the benchmark prime rate down to 6.95 per cent, marking its first dip since the pandemic-induced freefall.While the Bank of Canada could always choose to defer easing until July 24, to eye the two inflation reports before that meeting, the writing’s on the wall: lower variable rates are coming.
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Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be...2 Magnificent Stocks to Buy That Are Near 52-Week Lows