OTTAWA — Bank of Canada governor Tiff Macklem says the central bank could begin lowering its key interest rate at its next decision in June after deciding to hold it steady for now.
"Yes, it's within the realm of possibilities," Macklem said in response to a question about the possibility of a rate cut in June.
While the Bank of Canada's conditions to begin lowering interest rates have been met, it needs to see price pressures ease for longer to make sure the decline in inflation is sustained. Economists were widely expecting the central bank to hold its key rate on Wednesday and deliver a rate cut at its next policy announcement in June.
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