Bank of Canada expected to cut rates again

The Bank of Canada will slice interest rates Today, Tuesday June 10th by 25 basis points to 2.75 per cent, most economists predict.

“It is probably going to be the last interest rate reduction by the Bank of Canada this year,” BNN’s Michael Kane said Tuesday.

Kane said the central bank has been very aggressive about cutting interest rates in the past six months to protect Canada from the slowdown in the United States.

The cut, combined with the U.S. Federal Reserve’s indication that it is finished chopping its equivalent rate, has imposed downward pressure on the Canadian dollar.

On Monday, the loonie slid below 98 cents US to close at 97.89 cents.

Moving forward, economists say nobody really knows with certainty what will happen to the U.S. and Canadian economies.

Please: STOP SPECULATING ABOUT REAL ESTATE AND ECONOMY MELTDOWN.

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