1. Interest rate decision: cut interest rates by 25 basis points to 4.25%, the third consecutive rate cut, in line with market expectations. Governor McClum said the meeting discussed different scenarios, including slowing interest rate cuts and...

< Span class = "section-news" > 1. Interest rate decision: 25 basis points cut to 4.25%, the third consecutive rate cut, in line with market expectations. Governor McClum said the meeting discussed different scenarios, including a slowdown in rate cuts and the possibility of a 50 basis point cut. < br > < span class = "section-news" > 2. Interest rate outlook: Governor McClum said that if inflation continues to slow broadly as forecast in July, then further rate cuts are a reasonable expectation. Interest rate decisions will be guided by the latest data. < br > < span class = "section-news" > 3. Inflation Outlook: Overall inflationary pressures continue to ease and excess supply continues to put downward pressure on inflation. Inflation is likely to pick up later in the year and upward pressure could be stronger than expected, Governor McClum said. < br > < span class = "section-news" > 4. Economic Outlook: Economic activity was weak during June and July. Governor McClum said the economy is most likely to grow by about 2 percent in the first half of 2024. There is some downside risk to the July forecast for strong economic growth in the second half. < br > < span class = "section-news" > 5. Market reaction: After the announcement of the interest rate decision, the US dollar continued to decline against the Canadian dollar USD/CAD, as low as 1.35.