Another rate cut this year? Maybe not
After the Bank of Canada’s decision yesterday to hold steady on the 0.75 per cent interest rate many analysts now say that another rate cut this year is unlikely. Stephen Poloz said that the bank is confident that the cut made in January is doing the job they wanted it to do, giving enough stimulus to offset the loss from lower oil prices. With oil prices having stabilised to some extent and other economic conditions in line with expectations economists don’t expect another rate change anytime soon. The curveball of course is that the economic climate both here and globally continues to be uncertain, so what can be forecast now is always subject to change.