Bank of Canada cuts interest rates again, as expected

The Bank of Canada has further reduced its overnight rate.

The cut was widely expected by economists as inflation appears to be under control and heading back to the target 2% rate. The next opportunity to further reduce interest rates is in September.

The Bank also released its Business Outlook Survey and its Canadian Survey of Consumer Expectations on July 15. Both reports found that public expectations for future inflation are in line with Bank forecasts.