Central Banks
Traders Pare Rate-Cut Odds as BOC Waits for More Inflation Data
- Bank sees ‘what we need’ on prices, but wants longer trend
- Macklem says June cut is ‘within the realm of possibilities’
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The Bank of Canada held its policy rate steady for a sixth consecutive meeting, as officials signaled they’re getting closer to rate cuts but still need more evidence of slowing inflation.
Policymakers led by Governor Tiff Macklem left the benchmark overnight rate unchanged at 5% on Wednesday. The hold was expected by markets and by economists in a Bloomberg survey.