BOC Meeting minutes: BOC felt upside pressure on inflation will continue to decline ...Middle East

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BOC Meeting minutes: BOC felt upside pressure on inflation will continue to decline
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The Bank of Canada meeting minutes for the October 2024 meeting. The BOC cut rates by 50 basis points at the October 23 meeting:Ahead of Bank of Canada's October 23 rate announcement, governing council felt upside pressures on inflation will continue to decline, so policy did not need to be as restrictive.Governing council members considered the merits of cutting the policy rate by 25 basis points. There was strong consensus for taking a larger step.Members wanted to convey that a larger step was appropriate given the economic data seen since July.Members discussed how slowing rate of population growth would act as a brake on total consumption growth.Members noted it would take time for lowe

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