According to Jinshi Data, Andrew Kelvin, head of Canadian and global interest rate strategy at TD Securities, said that the Bank of Canada's interest rate decision today was a fairly mild rate cut. They seemed to be trying to emphasize factors that may help reduce inflation and downplay some factors that may advocate a more balanced approach.
They are fairly comfortable with expectations that wage gains will slow, and expectations that housing inflation will slow. Taken together, the Bank of Canada is finding reasons to continue easing monetary policy.
