June inflation data could open door to 2nd Bank of Canada rate cut: Global
UNSPLASH/Dhruv Saran Mehra
Statistics Canada is due to release June inflation data on Tuesday.
A report from Statistics Canada on Tuesday will likely show inflation slowed to 2.7 per cent last month, Craig Lord of Global News reported, citing a research note from Royal Bank of Canada. If the report shows consumer prices continued their cooling trend, that could give the central bank scope to cut its policy rate for a second straight meeting, Lord said. Policy makers led by Tiff Macklem next meet on July 24 to set rates.
