Bank of Canada Holds: June Rate Cut ‘Within the Realm of Possibilities”

#BankofCanada #CanadianEconomy #CanadianRealEstate

The Bank of Canada held rates at 5% today, but noted that an interest rate cut in June is “…within the realm of possibilities.” Yet the Bank also outlined a number of upside risks to Canada’s inflation rate, which it says is still too high.

Links:

Release of the Monetary Policy Report / Publication du Rapport sur la politique monétaire:

https://www.youtube.com/watch?v=88MOLr_QhGs&t=2s

Monetary Policy Report – April 2024:

https://www.bankofcanada.ca/wp-content/uploads/2024/04/mpr-2024-04-10.pdf

Traders pare rate-cut odds as Bank of Canada waits for more inflation data:

https://www.bnnbloomberg.ca/boc-to-announce-interest-rate-decision-this-morning-expected-to-hold-rate-at-5-1.2057248

Bank of Canada Expected to Hold Interest Rates Steady as Rate-Cut Anticipation Builds:

https://www.wsj.com/articles/bank-of-canada-expected-to-hold-interest-rates-steady-as-rate-cut-anticipation-builds-e3801f58

Canada 5 Year Government Bond:

https://www.marketwatch.com/investing/bond/tmbmkca-05y?countrycode=bx

Markets slash rate cut bets after US inflation rises to 3.5%:

https://www.ft.com/content/0395f49d-ac44-4698-afc2-d4784204cf41

Bank of Canada holds key rate at 5%, signals June cut ‘within realm of possibilities’:

https://www.thestar.com/business/bank-of-canada-holds-key-rate-at-5-signals-june-cut-within-realm-of-possibilities/article_ab424f58-f73c-11ee-bc81-df3056e4ffb1.html

Consumer price index portal:

https://www.statcan.gc.ca/en/subjects-start/prices_and_price_indexes/consumer_price_indexes

A Peek at Budget 2024:

https://liberal.ca/a-peek-at-budget-2024/

Bank of Canada holds key interest rate at 5%, says things moving in right direction:

https://www.cbc.ca/news/business/bank-of-canada-interest-april-10-interest-rates-1.7169183

Bank of Canada maintains policy rate, continues quantitative tightening:

https://www.bankofcanada.ca/2024/04/fad-press-release-2024-04-10/

Shelter, Gasoline Prices Drive Over Half of US CPI Gains:

https://www.bloomberg.com/news/live-blog/2024-04-10/us-cpi-report-for-march

Canadian Survey of Consumer Expectations—First Quarter of 2024:

https://www.bankofcanada.ca/2024/04/canadian-survey-of-consumer-expectations-first-quarter-of-2024/

Business Outlook Survey—First Quarter of 2024:

https://www.bankofcanada.ca/2024/04/business-outlook-survey-first-quarter-of-2024/

Canadian Dollar dives to year-to-date lows following US CPI data:

https://www.fxstreet.com/news/canadian-dollar-hits-new-lows-after-strong-us-inflation-data-202404101609

Toughest time ever to afford a home as soaring interest costs keep raising the bar:

https://thoughtleadership.rbc.com/toughest-time-ever-to-afford-a-home-as-soaring-interest-costs-keep-raising-the-bar/

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