After this rate decision, the Canadian money market expects the Bank of Canada to cut interest rates again in September with a probability of about 50%.

On Wednesday (June 5th), the Bank of Canada lowered its benchmark overnight interest rate by 25 basis points from 5.0% to 4.75% in June's interest rate resolution, becoming the first G7 country to initiate a rate cutting cycle.

According to the latest data from Statistics Canada, the Canadian economy grew by 0% quarter-on-quarter in the fourth quarter..2%, after third-quarter revisions showed a contraction of 0.1%。