🚨BANK OF CANADA CUTS RATES🚨
Why does this matter?
They did so in the face of persistent shelter inflation
In Canada in March, shelter prices increased by 6.5% year-over-year, with rent increasing by 8.5%
THEY CUT ANYWAY.
America, your move next 🇺🇸 https://t.co/dT8nXxwplx
— Amy Nixon (@texasrunnerDFW) June 5, 2024
Rates are cut 25 basis points not a whole lot but it’s a start. Reasons were slower gdp growth than anticipated and inflation falling towards target levels. With oil prices down, inflation is gonna be down further this month. Also the last gdp growth number came in below expectations as well for the us. I wonder is the rate cutting cycle finally starting?
https://www.bankofcanada.ca/2024/06/fad-press-release-2024-06-05/