RBC expect the Bank of Canada to cut its benchmark rate by another 50bp at its meeting on Wednesday, December 11, 2024:
- adding to a 50 bps cut in October and 125 bps in total cuts since June
- We continue to expect that additional interest rate cuts will be needed in the year ahead with the overnight rate ultimately falling below the Bnk's neutral range estimate at 2% in mid-2025
Earlier previews:
- Goldman Sachs: BOC meeting on Wednesday – Base case and alternative scenario
- USD/CAD rises above 1.41 as a jumbo Bank of Canada rate cut nears
Macklem will speak at 1530 GMT, 1030 Eastern time.
