Former Bank of Canada Official Sees Jumbo Rate Cut in October

From bnnbloomberg.ca

video An ex-member of the Bank of Canada’s governing body said officials should cut borrowing costs by half a percentage point later this month. There are “good reasons” to move interest rates “back to as close to neutral as quickly as possible,” former Deputy Governor Paul Beaudry said, including boosting household and business optimism. Now that policymakers are more sure that wage growth, expectations and corporate pricing are going in the right direction, Beaudry sees borrowing costs moving lower faster as the bank eyes a sustainable return to 2% inflation. “The preconditions were there to kind of ... (full story)