Bank Of Canada Interest Rate Decision 4.50% Vs 4.50% Est.; 4.75% Prior
Portfolio Pulse from Benzinga Newsdesk
The Bank of Canada has decided to maintain its interest rate at 4.50%, matching the estimated rate and down from the previous rate of 4.75%.
July 24, 2024 | 1:46 pm
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NEUTRAL IMPACT
The Bank of Canada has decided to maintain its interest rate at 4.50%, which could stabilize the Canadian economy and impact the iShares MSCI Canada ETF (EWC).
The decision to maintain the interest rate at 4.50% aligns with market expectations, which may lead to stability in the Canadian economy. This stability could reflect in the performance of the iShares MSCI Canada ETF (EWC), but no significant short-term price movement is expected.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80