Central Banks Feeling The Pressure To Cut Rates

The Bank of Canada (BoC) has recently undergone a significant shift in its monetary policy focus. Over the past two years, the central bank aggressively hiked interest rates to combat soaring inflation. These efforts have largely paid off, as inflation has been brought under control. However, this success has come at a cost—economic growth has been throttled, leading to rising unemployment and a surge in business insolvencies. Recognizing the need to pivot, the BoC is now shifting its priorit...