📊 Bank of America: Bank of Canada will keep the interest rate unchanged this month 🇨🇦💰
#الفائدة #اقتصاد #اقتصاد_عالمي #كندا
Analysts at Bank of America Global Research expect the Bank of Canada (BoC) to maintain the key interest rate at 2.50% in its meeting on October 29, delaying any potential cuts until December.
🧠 This decision is based on the continued strength of the Canadian labor market and the stability of core inflation at elevated levels (3.15% in September), making immediate monetary easing unlikely.
📈 Although GDP grew by 0.2% in July due to improvements in the extraction and manufacturing industries, weak consumption and retail trade still constrain growth.
🔥 The overall inflation rate rose to 2.4% in September compared to 1.9% in August, driven by a decline in gasoline prices, which reduces the margin for interest rate cuts at this time.
🔮 However, analysts expect the bank to begin a gradual rate cut in December and January by 25 basis points each time, bringing the rate down to 2.00% by the end of January if inflation starts to decline.