24 Oct Bank of Canada Lowers Rates: Economic Growth, Inflation Trends, and What’s Next
Posted at 23:21h
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The Bank of Canada has lowered its target for the overnight rate to 3.75%, with the Bank Rate at 4% and continues its balance sheet normalization policy. The global economy is projected to grow by about 3% over the next two years, with stronger-than-expected growth in the U.S., a subdued outlook for China, and moderate recovery in the euro area. Inflation in advanced economies has eased, nearing central bank targets, while global oil prices have dropped by about $10 since July.