According to Jinshi, several banks expect the Bank of Canada to cut interest rates by 25 basis points tonight. Commerzbank, DBS Bank, Scotiabank, RBC, Capital Economics, TD Securities, Bank of America, Oxford Economics and Canadian Imperial Bank of Commerce all believe that the recent weak labor market, rising unemployment and falling inflation are the main reasons. Some banks also expect the Bank of Canada to continue to cut interest rates in the next few meetings.