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What impact does US holding its interest rate have on Canada?

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One could call it a tale of two central banks. A week ago, Canada’s central bank brought its interest rate to 4.75 per cent. It was the first among the G7 countries to cut its key lending rate.

Meanwhile, the U.S. central bank announced on Wednesday that it's holding its central funds rate at a 23-year high and is signally there is just one rate cut in the cards this year.

The Bank of Canada’s monetary policy has an immediate impact on variable rate debt, including variable rate mortgages. But what the U.S. central bank does has a bigger effect on the bond market and fixed rates.

Global’s Anne Gaviola has more.

For more info, please go to https://globalnews.ca/news/10561915/us-inflation-may-2024/

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Category
U.S. & Canada
Tags
global news, U.S. interest rates, Canada interest rates
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