Bank of Canada expected to cut rates by 50 basis points [Video]

Economists are largely anticipating the Bank of Canada to cut its policy interest rate by 50 basis points on Wednesday, but some are advising against the move. 

According to a Bloomberg survey of economists, the central bank is expected to lower the policy rate to 3.25 per cent in its last meeting of 2024 from 3.75 in October. If that turns out to be the case, it will have slashed the rate by 175 basis points in six months.