Bank of Canada Interest Rate Decision 3.75% Vs 3.75% Est.; 4.25% Prior
Portfolio Pulse from Benzinga Newsdesk
The Bank of Canada has decided to maintain its interest rate at 3.75%, aligning with market expectations, but lower than the previous rate of 4.25%. This decision may influence Canadian economic conditions and related investments.
October 23, 2024 | 1:45 pm
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NEUTRAL IMPACT
The Bank of Canada's decision to maintain the interest rate at 3.75% could impact the iShares MSCI Canada ETF (EWC), as it reflects on the Canadian economy's stability and potential growth.
The interest rate decision directly affects the Canadian economy, which EWC is exposed to. A stable rate suggests economic stability, but the unchanged rate may not lead to immediate price movements.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80