{"id":49567,"date":"2024-07-22T10:00:49","date_gmt":"2024-07-22T10:00:49","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/07\/22\/bank-of-canada-expected-to-cut-rates-as-economy-softens\/"},"modified":"2024-07-22T10:00:49","modified_gmt":"2024-07-22T10:00:49","slug":"bank-of-canada-expected-to-cut-rates-as-economy-softens","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/07\/22\/bank-of-canada-expected-to-cut-rates-as-economy-softens\/","title":{"rendered":"Bank of Canada expected to cut rates as economy softens"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<li class=\"breadcrumbs__item\">Economy<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">Data released the past month suggest the economy is feeling the pinch of higher rates<\/p>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Jul 22, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 6\u00a0minutes ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">3 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"6be040d5-2365-41f0-946e-f42dc0c0e11d\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Governor of the Bank of Canada Tiff Macklem speaks during a news conference in Ottawa.<\/span> <span class=\"credit\">Photo by Justin Tang\/The Canadian Press files<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">Economists widely expect the Bank of Canada to cut its policy rate for the second consecutive time on Wednesday after data released the past month suggested the Canadian economy is feeling the pinch of higher rates.<\/p>\n<p>\u201cI think the bank is going to cut again,\u201d said Jeremy Kronick, director of the Centre on Financial and Monetary Policy at the C.D. Howe Institute. \u201cI think if you look the evidence that\u2019s come since they made the announcement to cut in June, I think it\u2019s pretty indicative of a softening economy.\u201d<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment1395657362365465474013475991715840\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<div 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Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman, Victoria Wells and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__anonymous\">\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">The unemployment rate jumped to 6.4 per cent in June, discretionary consumer spending continues to decline and retail trade data released on Friday showed a decrease of 0.8 per cent compared to the month before, with sales down in eight of the nine subsectors.<\/p>\n<p>\u201cThings are fairly contained, and you can see how the lack of affordability is pinching,\u201d said Jimmy Jean, chief economist at Desjardins Group. \u201cYou take all this together and it\u2019s clear this is an economy that is still struggling and that\u2019s really what the Bank of Canada wants to confirm.\u201d<\/p>\n<p data-async=\"\">The inflation rate unexpectedly ticked up to 2.9 per cent in May, before easing down in June to 2.7 per cent. Core inflation, the measures the central bank prefers to assess when making its monetary policy decisions, ticked down last month, but the three-month annualized average jumped slightly.<\/p>\n<p data-async=\"\">Some components in the inflation basket remain sticky, including the cost of services, which grew by 4.8 per cent year-over-year in June, up from 4.6 per cent reported in May. This acceleration was driven mainly by wage growth, which is expected to decline.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot14\">\n<section class=\"newsletter-widget__new-story-page fp-headlinenews background--primary-light-gradient\" aria-labelledby=\"FinancialPostTopStories5638524696751588649710411677958144\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_HeadlineNews\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/dcs-static.gprod.postmedia.digital\/16.5.1\/websites\/images\/newsletters\/icon-fp-topStories.svg 75w, https:\/\/dcs-static.gprod.postmedia.digital\/16.5.1\/websites\/images\/newsletters\/icon-fp-topStories.svg 100w, https:\/\/dcs-static.gprod.postmedia.digital\/16.5.1\/websites\/images\/newsletters\/icon-fp-topStories.svg 150w, https:\/\/dcs-static.gprod.postmedia.digital\/16.5.1\/websites\/images\/newsletters\/icon-fp-topStories.svg 240w, https:\/\/dcs-static.gprod.postmedia.digital\/16.5.1\/websites\/images\/newsletters\/icon-fp-topStories.svg 320w, https:\/\/dcs-static.gprod.postmedia.digital\/16.5.1\/websites\/images\/newsletters\/icon-fp-topStories.svg 500w, https:\/\/dcs-static.gprod.postmedia.digital\/16.5.1\/websites\/images\/newsletters\/icon-fp-topStories.svg 640w, https:\/\/dcs-static.gprod.postmedia.digital\/16.5.1\/websites\/images\/newsletters\/icon-fp-topStories.svg 800w, https:\/\/dcs-static.gprod.postmedia.digital\/16.5.1\/websites\/images\/newsletters\/icon-fp-topStories.svg 1024w, https:\/\/dcs-static.gprod.postmedia.digital\/16.5.1\/websites\/images\/newsletters\/icon-fp-topStories.svg 1280w, https:\/\/dcs-static.gprod.postmedia.digital\/16.5.1\/websites\/images\/newsletters\/icon-fp-topStories.svg 1600w\" alt=\"Top Stories\" loading=\"lazy\" fifu-data-src=\"https:\/\/dcs-static.gprod.postmedia.digital\/16.5.1\/websites\/images\/newsletters\/icon-fp-topStories.svg\"\/><\/div>\n<div>\n<p>Top Stories<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Get the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_HeadlineNews\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_HeadlineNews\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment9694825179729104654767671107125248\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">\u201cWages are still looking overheated, but in line with what the bank\u2019s Business Outlook Survey showed, they should cool next year in a lagged response to softer inflation and labour market slack,\u201d wrote Avery Shenfeld, chief economist at the Canadian Imperial Bank of Commerce, in a note to clients.<\/p>\n<p>Shelter costs also remain the biggest contributor to inflation. Inflation in mortgage interest costs came in at 22.3 per cent year-over-year in June and rental costs stood at 8.8 per cent the same month.<\/p>\n<p data-async=\"\">Last month, Bank of Canada governor Tiff Macklem said Canada\u2019s economy is headed for a \u201csoft landing.\u201d The bank expects Canada\u2019s economy to grow by 1.5 per cent this year, according to its forecast in April.<\/p>\n<p>However, the Royal Bank of Canada reported GDP-per-capita has been in decline in six of the past seven quarters, with the Canadian economy not keeping up with the surge in population over the past two years.<\/p>\n<p data-async=\"\">\u201cI see this as a very atypical slowdown situation and the sequence of contractions in domestic demand per capita, we haven\u2019t seen anything like that since the 1980s,\u201d Jean said. \u201cA soft landing at perhaps face value, but when you dig down things look like a mild recession to me.\u201d<\/p>\n<\/section>\n<div class=\"ad__section-border 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https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/07\/variable-rate-mortgage-0719.jpg?h=96&strip=all&quality=80&sig=VLSuNNPY2Uvw7JVCoX790w&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/07\/variable-rate-mortgage-0719.jpg?h=96&strip=all&quality=80&sig=VLSuNNPY2Uvw7JVCoX790w&ssl=1&w=1600&resize=1600&ssl=1 1600w\" fifu-data-src=\"https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/07\/variable-rate-mortgage-0719.jpg?h=96&strip=all&quality=80&sig=VLSuNNPY2Uvw7JVCoX790w&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/07\/variable-rate-mortgage-0719.jpg?h=96&strip=all&quality=80&sig=VLSuNNPY2Uvw7JVCoX790w, https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/07\/variable-rate-mortgage-0719.jpg?h=192&strip=all&quality=80&sig=idrfXA6yTgJjF1Lhh9jvRg 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/07\/variable-rate-mortgage-0719.jpg?h=288&strip=all&quality=80&sig=Bu1NhD9dTtiLbUM9NQWaNA 3x\" alt=\"mortgages\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Variable-rate borrowers poised to catch another break<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" data=\"\" points=\"\" to=\"\" another=\"\" interest=\"\" rate=\"\" cut=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0716macklem.jpg?h=96&strip=all&quality=5&sig=ggNWaO0ncUf3S1MWKKS1ww&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0716macklem.jpg?h=96&strip=all&quality=5&sig=ggNWaO0ncUf3S1MWKKS1ww&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0716macklem.jpg?h=96&strip=all&quality=5&sig=ggNWaO0ncUf3S1MWKKS1ww&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0716macklem.jpg?h=96&strip=all&quality=5&sig=ggNWaO0ncUf3S1MWKKS1ww&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0716macklem.jpg?h=96&strip=all&quality=5&sig=ggNWaO0ncUf3S1MWKKS1ww&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0716macklem.jpg?h=96&strip=all&quality=5&sig=ggNWaO0ncUf3S1MWKKS1ww&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0716macklem.jpg?h=96&strip=all&quality=5&sig=ggNWaO0ncUf3S1MWKKS1ww&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0716macklem.jpg?h=96&strip=all&quality=5&sig=ggNWaO0ncUf3S1MWKKS1ww&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0716macklem.jpg?h=96&strip=all&quality=5&sig=ggNWaO0ncUf3S1MWKKS1ww&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0716macklem.jpg?h=96&strip=all&quality=5&sig=ggNWaO0ncUf3S1MWKKS1ww&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0716macklem.jpg?h=96&strip=all&quality=5&sig=ggNWaO0ncUf3S1MWKKS1ww&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Bank of Canada governor Tiff Macklem arrives for a news conference in Ottawa.\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0716macklem.jpg?h=96&strip=all&quality=80&sig=aaJaP-xp1i-Rdk_8UqQUHA\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0716macklem.jpg?h=96&strip=all&quality=5&sig=ggNWaO0ncUf3S1MWKKS1ww&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0716macklem.jpg?h=96&strip=all&quality=80&sig=aaJaP-xp1i-Rdk_8UqQUHA, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0716macklem.jpg?h=192&strip=all&quality=80&sig=dGN7gVVgVKH5V6kOQaudHw 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0716macklem.jpg?h=288&strip=all&quality=80&sig=G9Mx2iHarCMwxa4IWohhpg 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Inflation data points to another interest rate cut<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>Still, upside risks remain for the Bank of Canada to consider, with the upcoming elections in Europe and the United States, where promises of trade protectionism and de-globalization may take centre stage.<\/p>\n<p>\u201cThe challenge there for the bank, is you don\u2019t want to keep rates elevated entering those kinds of challenges, you don\u2019t want a weaker economy when those challenges hit,\u201d Kronick said. \u201cThat might actually encourage more rate cutting to position the economy in a way to deal with those kinds of shocks.\u201d<\/p>\n<p data-async=\"\"><em>\u2022 Email: jgowling@postmedia.com<\/em><\/p>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Bank of Canada expected to cut rates as economy softens<\/a><br \/>\n<br \/>2024-07-22 10:00:49<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Economy Data released the past month suggest the economy is feeling the pinch of higher rates Published Jul 22, 2024 \u00a0\u2022\u00a0 Last updated 6\u00a0minutes ago \u00a0\u2022\u00a0&#8230;<\/p>\n","protected":false},"author":2,"featured_media":49568,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/07\/no0719macklem-1.jpg?quality=90&strip=all&w=288&h=216&sig=CRazo7frRV90RqYlMVFyow","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-49567","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/49567","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=49567"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/49567\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/49568"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=49567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=49567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=49567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}