All Praise The King of kings and Lord of lords Cuong V Truong
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Oil Shock Taking Canada Toward Recession May Prompt Rate Cut
Canada’s central bank may cut its key lending rate Wednesday for the second time this year, a decision that hinges on whether Governor Stephen Poloz views an oil shock as having broadened into a recession. Fifteen of 29 economists surveyed by Bloomberg predict the overnight rate will be reduced to 0.5 percent in an announcement due at 10 a.m. in Ottawa. The others -- who fear further inflating a debt bubble -- say it will remain at 0.75 percent, where it’s been since a cut in January. The world’s 11th largest economy has shrunk four straight months through April, with export weakness spreading from energy to ... (full story)