David Rosenberg says more Bank of Canada rate cuts are needed, "still too high "

The Bank of Canada cut by 25bp on Wednesday, news and analysis posts here:

• Forexlive Americas FX news wrap 24 Jul:Watch out below! Broad indices worst day since 2022

From noted economist David Rosenberg, calling for plenty more to come:

• The Bank of Canada's decision to lower its key interest rate to 4.5% is the right move, and I predict more cuts are coming soon. Despite the recent dovish tone of BoC, current rates are still too high for an economy with such excess supply. I believe rates will eventually drop to 2%, and wouldn’t be surprised if we go lower.

Comments via tweet but it seems to have vanished.

Bank of Canada earlier

This article was written by Eamonn Sheridan at www.forexlive.com.

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