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Never say never to Bank of Canada rate cut: Why markets could be in for a surprise tomorrow
When it comes to the Bank of Canada, you can never say never. Central bank governor Stephen Poloz taught us that lesson — as far back as January 2015, most notably — when he surprised markets, economists and certainly the media, by cutting policymakers’ key lending level by quarter percentage point in reaction to the collapse of oil prices. That was followed in July by a similar drop in borrowing costs, taking the level to 0.5 per cent, where it remains. We’ll find out where lending levels now stand on Wednesday when Poloz and his policy council announce their latest rate decision — along with the bank’s ... (full story)
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