Markets Bet on Second Bank of Canada Interest Rate Cut Coming This Week

Markets Bet on Second Bank of Canada Interest Rate Cut Coming This Week
Governor of the Bank of Canada Tiff Macklem speaks during a news conference on the Bank of Canada's rate announcement in Ottawa on June 5, 2024. The Canadian Press/Justin Tang
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Economists and market watchers are betting the Bank of Canada will deliver another interest rate cut this week amid mounting evidence that inflation is sustainably easing.

Expectations that the bank will lower its overnight lending rate when it makes its scheduled announcement on July 24 have been high since last week’s release of the latest Statistics Canada inflation report, which showed annual inflation cooled to 2.7 percent in June.