Morning Market Brief: April 11, 2024
CIBC Private Wealth / Gestion privée CIBC
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Inching towards a rate cut?
The Bank of Canada (BoC) held steady at its April meeting. While inflation is coming down, it remains stubbornly high, suggesting the central bank’s battle against inflation isn’t quite over. The BoC didn’t provide any specific details on the timing of a potential rate cut.?
Borrowing costs are set to stay higher for a bit longer. The BoC is grappling with several economic contradictions that are weighing on its decision. Economic growth and inflation are slowing, but wage growth is high, and the housing market is again picking up steam. Tough decisions still lie ahead for the BoC but the potential for a rate hike this year is high.
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