Bank of Canada signals likely end to rate cuts, but keeps options open
Update: 2025-10-29
Description
The Bank of Canada lowered its key interest rate by a quarter point to 2.25%, marking the second consecutive cut, aiming to ease economic pressure amidst US tariffs and maintain inflation near the 2% target. Despite this, the bank signaled it's likely done with rate cuts for now, as growth forecasts have been revised downward. Economists have mixed reactions, with some predicting further rate cuts next year if conditions remain weak. The Canadian economy has experienced a slowdown, with a 1.6% contraction in Q2 and uncertain growth ahead. The bank views this as a structural transition, not just a typical cycle, and expects modest growth for the rest of the year.
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