According to Jinshi, Doug Porter, chief economist of Bank of Montreal Capital Markets, said that the overall tone of the Bank of Canada in its official statement and the speech of Governor Macklem at the press conference pointed to further interest rate cuts. Porter said, "The Bank of Canada is more dovish than we expected, but it still maintains a healthy cautious attitude."
Officials appeared “impressed” by the months-long slowdown in inflation, adding that the rate cut marked an important turning point for the central bank and most of the Group of Seven central banks after nearly two years of restrictive monetary policy.
