2 w. ago
Bank of Canada to update interest rate this week and here's what to expect
Another Bank of Canada (BoC) interest rate announcement is coming this week, and it may be promising for Canadians.Canada's central bank held its key interest rate at 2.75 per cent for the third time this year in July amid "threats of new sectoral tariffs" and "unpredictable" U.S. trade actions.The Bank of Canada has made two 0.25 per cent cuts to its key interest rate so far this year, with the last one on March 12.Experts are predicting that the next rate cut may be coming in the crown corporation's interest rate reveal on Wednesday, Sept. 17.Ratehub.ca mortgage expert Penelope Graham says that weaker job data in Canada and the U.S. may give the Bank a compelling reason to deliver a 0.25-point rate cut this week."Evidence is mounting that tariffs are whittling economic strength, and that some stimulus will be needed in the short term," she explains. "The growing likelihood of a similar cut from the U.S. Federal Reserve also prov...
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