Bank of Canada Signals Potential 50 Basis Point Rate Cut Amid Economic Concerns

On September 15, COINOTAG reports that growth anxieties have led the Governor of the Bank of Canada to hint at a potential acceleration in interest rate cuts. This implies that policymakers might consider a notable 50 basis point reduction if economic expansion falters. Despite an annualized growth of 2.1% in Q2, alarm is rising over the prospect of stagnation due to declining oil prices, increasing unemployment, and lower immigration levels. Central bankers express escalating concerns over the labor market and the economic risks posed by falling crude oil prices.