{"id":13124,"date":"2019-07-19T11:11:22","date_gmt":"2019-07-19T18:11:22","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=13124"},"modified":"2019-07-05T08:56:56","modified_gmt":"2019-07-05T15:56:56","slug":"is-the-bank-of-canada-slashing-interest-rates","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/07\/is-the-bank-of-canada-slashing-interest-rates\/","title":{"rendered":"Is The Bank of Canada Slashing Interest Rates?"},"content":{"rendered":"<p style=\"text-align: justify;\">It is more likely than not that the Bank of Canada holds the interest rate at 1.75% on Wednesday, but there\u2019s a growing chorus that believes it will decrease the rate before the end of the year.<\/p>\n<p style=\"text-align: justify;\">\u201cIf we were only looking at domestic factors, we might think that the Bank would soon start to consider further rate hikes,\u201d said Capital Economics\u2019 Stephen Brown. \u201cEconomic growth is on track to outperform the Bank\u2019s forecasts in the second quarter and core inflation has risen in recent months. But outside of Canada, trade tensions have grown, there are signs that U.S. GDP growth is slowing, and the Fed has signalled that it will soon cut rates. We suspect that the next move will be a cut.\u201d<\/p>\n<p style=\"text-align: justify;\">Dalhousie University\u2019s Lars Osberg believes an interest rate cut is coming sooner rather than later.<\/p>\n<p style=\"text-align: justify;\">\u201cSudden global trade softness,\u201d he said.<\/p>\n<p style=\"text-align: justify;\">However, neither a rate hike nor decrease is likely Wednesday because of headwinds from abroad, according to the Conference Board of Canada\u2019s Alicia Macdonald.<\/p>\n<p style=\"text-align: justify;\">\u201cWhile some data suggests that the Canadian economy is indeed emerging from its recent slump, there remains a significant risk to the global economic outlook due to global trade tensions,\u201d she said. \u201cWith a fair degree of slack in the domestic economy, the Bank of Canada can afford to be patient before moving interest rates.\u201d<\/p>\n<p style=\"text-align: justify;\">The Canadian economy is growing, albeit slowly, and inflation is in the Bank of Canada\u2019s target range, which is why an interest rate decrease may not, in fact, be on the horizon.<\/p>\n<p style=\"text-align: justify;\">\u201cA rate increase is unnecessary without sustained upward price pressure,\u201d said Concordia University\u2019s Moshe Lander, an economics lecturer. \u201cThere is little room for a rate decrease since the overnight rate is already so low, so it\u2019s best to wait until there is economic data that warrants a cut.\u201d<\/p>\n<p style=\"text-align: justify;\">There\u2019s been more job creation in Canada in the first fourth months of this year than in all of 2018, and according to Brett House of Scotiabank, there will be faster growth over the next few quarters because Canadian conditions are quite different from those south of the border.<\/p>\n<p style=\"text-align: justify;\">\u201cCanada\u2019s major macroeconomic activity indicators continue to rebound from a soft patch at the turn of the year and inflation is near the Bank of Canada\u2019s target,\u201d he said.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/is-the-bank-of-canada-slashing-interest-rates-276293.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">Is The Bank of Canada Slashing Interest Rates?<\/a> by Neil Sharma | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is more likely than not that the Bank of Canada holds the interest rate at 1.75% on Wednesday, but there\u2019s a growing chorus that believes it will decrease the &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/07\/is-the-bank-of-canada-slashing-interest-rates\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-13124","post","type-post","status-publish","format-standard","hentry","category-mortgage"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Is The Bank of Canada Slashing Interest Rates? 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&#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2019\/07\/is-the-bank-of-canada-slashing-interest-rates\/","twitter_card":"summary_large_image","twitter_title":"Is The Bank of Canada Slashing Interest Rates? &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"It is more likely than not that the Bank of Canada holds the interest rate at 1.75% on Wednesday, but there\u2019s a growing chorus that believes it will decrease the &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2019\/07\/is-the-bank-of-canada-slashing-interest-rates\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/07\/is-the-bank-of-canada-slashing-interest-rates\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Is The Bank of Canada Slashing Interest Rates?","datePublished":"2019-07-19T18:11:22+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2019\/07\/is-the-bank-of-canada-slashing-interest-rates\/"},"wordCount":414,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Mortgage"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2019\/07\/is-the-bank-of-canada-slashing-interest-rates\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2019\/07\/is-the-bank-of-canada-slashing-interest-rates\/","url":"https:\/\/www.roryc.ca\/blog\/2019\/07\/is-the-bank-of-canada-slashing-interest-rates\/","name":"Is The Bank of Canada Slashing Interest Rates? 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