What are your thoughts on a potential rate cut? 🤔

Economists and market watchers are betting on a second interest rate cut from the Bank of Canada this week, as inflation shows signs of easing. Last week’s Statistics Canada report revealed that annual inflation cooled to 2.7% in June, raising hopes for another rate reduction.
Expectations are high for Wednesday’s announcement, following the 25-basis-point cut last month. Experts believe another cut is needed to impact the economy and inflation significantly. Rising unemployment and subdued business growth support this prospect. $Royal Bank of Canada (RY.CA)$ $Canadian Imperial Bank of Commerce (CM.CA)$ $Bank of Montreal (BMO.CA)$