Interest rate cuts are paused. For now…

This week, the Bank of Canada (BoC) decided to hold its key interest rate at 2.75%, which was a surprise to nobody, says Philip Petursson, Chief Investment Strategist at IG Wealth Management. With gross domestic product a little better than expected, inflation dropping and jobs steady, a rate cut wouldn’t have made sense. Philip discusses what might have to happen in the future to lead to another rate drop, and how much room the BoC has for further cuts.