Economy is imploding? Bank of Canada cuts rates despite shelter inflation; America, your move next.

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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?

www.bankofcanada.ca/2024/06/fad-press-release-2024-06-05/

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