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National Bank of Canada predicts central bank rate cut of 100 basis points by year-end

National Bank of Canada predicts central bank rate cut of 100 basis points by year-end

Bitget2024/10/16 15:58

National Bank of Canada economist Matthieu Arseneau believes the Bank of Canada will be forced to cut interest rates by another full 100 basis points by the end of the year to provide the vigour needed to stabilise the economy.

 

With widespread inflation a thing of the past and inflation expectations continuing to improve, the door is open for the central bank to move its policy rate back to a neutral level of 2.5-3 per cent as soon as possible, from the current 4.25 per cent.

 

The CPI retreated 0.4 per cent on a year-on-year basis last month, following a 0.2 per cent fall in August. job growth in September was not enough to stabilise the employment rate.

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