Bank of Canada cuts interest rates again. \ stacker news ~econ

Bank of Canada cuts interest rates again.

311 sats \ 10 comments \ @grayruby 24 Jul econ

As anticipated, the Bank of Canada has cut its benchmark rate 25 basis points for the second time. The benchmark now stands at 4.5% with the Bank signaling more cuts to come.

If you want to read more, click here https://globalnews.ca/news/10640354/bank-of-canada-interest-rate-july-2024/

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50 sats \ 2 replies \ @ContraMundum 24 Jul

In a country with worse inflation than the U.S. this baffles me

21 sats \ 1 reply \ @grayruby OP 24 Jul

I think the inflation rate is lower than the US now but it is more about the fact that the job market is rolling over.

40 sats \ 0 replies \ @ContraMundum 24 Jul

This is true. Good point.

20 sats \ 0 replies \ @TomK 25 Jul

that won't be the last time either. the Canadians clearly belong to the european Union in terms of economic policy design and ideology. it's going downhill here too, too bad, it was a very nice country

20 sats \ 0 replies \ @Coinsreporter 25 Jul

I think Canada needs to be below 3%. Still long way to go!

20 sats \ 2 replies \ @Kontext 25 Jul

Canada's unemployment rate: June 2022: 5% June 2023: 5.4% June 2024: 6.4% 👀

10 sats \ 1 reply \ @grayruby OP 25 Jul

This is why the rate cuts even though inflation is 2.7%

50 sats \ 0 replies \ @Kontext 25 Jul

Related: #622276

20 sats \ 0 replies \ @Satosora 25 Jul

They are cutting it again? How is that possible?

20 sats \ 0 replies \ @BitcoinAbhi 25 Jul

These are good signs and I hope it continues for my Canadian friends.