Governor of the Bank of Canada Tiff Macklem participates in a news conference, in Ottawa, Thursday, May 9, 2024. THE CANADIAN PRESS/Justin Tang
On balance, financial markets expect the bank to cut its key lending rate by a quarter of a percentage point, but the view is by no means universal, with some expecting it to wait. Bank of Canada governor Tiff Macklem has said a rate cut is within the realm of possibilities, but that the decision will be guided by the economic data. He has said the central bank is seeing what it needs to see, but wants to see it for longer to be confident that progress toward price stability will be sustained.The interest rate decision follows a report by Statistics Canada last week that showed economic growth in the first quarter fell short of the Bank of Canada's expectations.
However, the jobs report for April showed employment rose by 90,000 for the month and marked the largest employment increase in more than a year.Residential mortgage debt hits $2.
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