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29.10.25 - 16:01
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Bank of Canada Cuts 25bps As Expected, Cites Weak Growth (ZeroHedge)
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Bank of Canada Cuts 25bps As Expected, Cites Weak Growth
In a preview of what is to come today at 2pm from the Fed, moments ago the Bank of Canada cut rates by 25bp to 2.25%, as expected, noting that current policy is "about the right level" to keep inflation close to 2% while helping the economy through this period of structural adjustment.
In its statement, the central bank noted the Canadian economy contracted 1.6% in the second quarter amid heightened uncertainty, and said the trade dispute with the US is likely to result in weak growth in the second half of the year, but there will be some help from rising consumer and government spending and as exports and business investment begin to recover.
They said the labor market remains soft with job losses continuing to build in trade-sensitive sectors. The BoC noted inflation was slightly higher than expected and remains sticky
Some more highlights from the statement:
US Tariffs
Because US trade policy remains unpredictable and un...
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