Economists say BoC could cut interest rates again in July if inflation keeps cooling

OTTAWA — Economists are forecasting inflation slowed further in May, which would be welcome progress for the Bank of Canada after it cut its key lending rate for the first time in four years.

"It looks like it's a fairly uneventful calm month for inflation. I would say at this stage, less news is good news," said Douglas Porter, BMO's chief economist.The Bank of Canada's decision to cut rates marked a major turning point in the central bank's fight against inflation, which reached a peak of 8.1 per cent in mid-2022.

"It will open the door for potentially the Bank Canada deciding to go back-to-back on rate cuts," Orlando said. The summary reiterated the central bank's cautious approach and that it plans to take future interest rate decisions one at a time. In April, grocery prices grew at a modest pace of 1.4 per cent annually, down significantly from the double-digit food inflation consumers were once experiencing.

These three tech stocks have already proven themselves worthy, but have a lot more to prove in the near future. Especially if you want millions. The post 3 Millionaire-Maker Tech Stocks That Should Be on Your Radar appeared first on The Motley Fool Canada.These three stocks are easy buys for those who don't have all that much to spend, and want long-term growth and income. The post 3 No-Brainer Stocks to Buy With $20 Right Now appeared first on The Motley Fool Canada.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BoC considered waiting until July to cut interest rates, summary saysCanada's construction news
Source: DCN_Canada - 🏆 17. / 74 Read more »

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.
Source: PGCitizen - 🏆 65. / 51 Read more »

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.
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »

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...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

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.
Source: SooToday - 🏆 8. / 85 Read more »