BoC Interest Rate Decision: Today's Bank of Canada policy meeting is unlikely to lead to any policy change. The benchmark interest rate in Canada was last recorded at 0.75%. What's hindering policy change: The recent reb…
BoC Interest Rate Decision: Today's Bank of Canada policy meeting is unlikely to lead to any policy change. The benchmark interest rate in Canada was last recorded at 0.75%.
What's hindering policy change: The recent rebound in the oil prices may have improved some of the downside concerns about economic growth that caused the BoC to make a precautionary interest rate cut earlier this year.
However, it will likely be looked upon as a predetermined thought to completely discard the probability of any further easing as the discussions in today's meeting regarding the economic outlook is going to take place and then offers accurate clues on the outcome of future decisions.
Earlier statement by the Bank of Canada:
Total CPI inflation is at 1%, reflecting the drop in consumer energy prices.
Core inflation has remained close to 2% in recent months as the temporary effects of sector-specific factors and pass-through of the lower Canadian dollar have offset the disinflationary forces from slack in the economy.
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