BoC considered waiting until July to cut interest rates, summary says

OTTAWA — The Bank of Canada's governing council thought about waiting until July to lower interest rates but ultimately decided to cut earlier, the central bank's summary of deliberations reveals.

The Bank of Canada's quarter-point rate cut marked the first time the central bank lowered its policy rate since March 2020, marking a turning point in its fight against high inflation.Ahead of the rate decision, most forecasters were expecting the central bank would deliver its first cut, though some were holding out for July.

The Bank of Canada will have two more inflation reports to consider before its next interest rate decision scheduled for July 24. The summary says the governing council is also paying attention to how population growth will continue to affect the economy and inflation. The infectious disease expert said the then-president was fixated on one thing during the early days of the coronavirus pandemic.Former aide insists Melania’s marriage to Trump is just a ‘mirage’ dreamed up by TV producers

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BoC considered waiting until July to cut interest rates, summary saysOTTAWA — The Bank of Canada's governing council thought about waiting until July to lower interest rates but ultimately decided to cut earlier, the central bank's summary of deliberations reveals.
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