1 November 2019

have spent more than expected during the holiday season and now wants to pay down the debts faster”.

Economists believe the no change decision was made due to strong macroeconomic indicators and inflation level.

“As a rule, the central bank foreshadows the coming move, but it didn’t happen on September 4 or during the following announcements,” – Scotiabank deputy chief economist Brett House said.

“Since that moment, we’ve seen still solid macro data. Moreover, the average core inflation was 2.7% last month, while uncertainty and trade tensions haven’t increased.”

At the same time, about 58% of respondents predict a rate decline in January.

“In our opinion, the economic data will start weakening, and as the full results of monetary policy changes appear only after some time, it could be a good idea to make a few insurance cuts”, – Capital Economics senior Canada economist Stephen Brown noted.