Former Bank of Canada Official Sees Jumbo Rate Cut in October
- ‘I would really bet on 50 basis points,’ Paul Beaudry says
- Says cutting quickly would restore confidence in economy
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An ex-member of the Bank of Canada’s governing body said officials should cut borrowing costs by half a percentage point later this month.
There are “good reasons” to move interest rates “back to as close to neutral as quickly as possible,” former Deputy Governor Paul Beaudry said, including boosting household and business optimism.