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Cuts Are Coming! After two rough years combating inflation through higher interest rates, global central banks are finally beginning the rate cut process! How will this developing trend impact your investment portfolio in the coming months?
Early this morning, the Bank of Canada (BOC) reduced its overnight interest rate target by 0.25% to 4.75%, the bank’s first cut in four years and the first instance of a G7 nation adopting looser monetary policy in the post-COVID era.
While the Canadian consumer price index (CPI) for the month of April came in marginally above the bank’s long-term target of 2%, the BOC cited “continued evidence that underlying inflation is easing” in justifying its initial round of cuts.
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