Jun 19, 05:32 PM

Bank of Canada Considers Waiting Until July to Cut Rates Amid Inflation Concerns

Bank of Canada's governing council considered the merits of waiting until July 24 to cut rates, as indicated in the minutes of the meeting. Other risks discussed include rate cuts leading to an overheated housing market, strong wage growth, and weak productivity pushing up service price inflation. Members agreed that more cuts could be expected if progress continues, with policy easing likely to be gradual. They also discussed the risks around the inflation path, such as households renewing mortgages at higher rates in 2025.

#Bank of Canada

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