NZDCAD View! Intraday!

Jul 18

The Bank of Canada (BoC) voted to cut interest rates at its June meeting from 5% to 4.75%, relying on its improved confidence that inflation is heading lower. The BoC highlighted the declining three-month measure of core inflation as one of the indications that CPI is heading lower but Governor Tiff Macklem also issued caution that the further progress is likely to be uneven and risks remain. The main risks to the inflation outlook include rising wage growth, the potential for escalating global tensions and the threat of house prices rising faster than anticipated.