Scotiabank Says Canada July Rate Cut Is Likely as Inflation Ebbs

Bank of Nova Scotia is likely to shift its expectation for Canada’s first interest-rate cut to July, abandoning its September call as evidence of slowing price pressures mounts.

That’s according to the bank’s chief economist Jean-Francois Perrault, who spoke with BNN Bloomberg Television after the release of April consumer price data on Tuesday. “Clearly this inflation report confirms rate cuts are coming,” he said.