Market bets on Bank of Canada rate cut shoot to 80% after latest Canadian and U.S. data

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Bank Of Canada أخبار

Personal Consumption Expenditures,Expectations,Prime Rate

Robert McLister: The writing's on the wall — lower variable rates are coming

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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