OTTAWA — Most economists expect the Bank of Canada will look past strong jobs data and signs of stubbornness on the inflation front to deliver a second consecutive interest rate cut this week.
BMO chief economist Doug Porter is among those expecting a second straight cut on Wednesday, but he admits recent economic data hasn’t perfectly lined up with that call.
Read more: • Food costs are spiralling. These Canadians are turning to food banks for help • Inflation jumps to 2.4% in September thanks to gas, grocery costs • Here’s a list of September inflation rates for Canadian provinces
“The two major economic reports we’ve had since the Bank of Canada last decided on interest rates were a strong jobs report and a bit higher than expected inflation report,” he said in an interview.
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