{"id":8611,"date":"2024-08-21T10:59:59","date_gmt":"2024-08-21T02:59:59","guid":{"rendered":"https:\/\/www.ultima-fin.net\/?p=8526"},"modified":"2025-07-17T01:34:22","modified_gmt":"2025-07-17T01:34:22","slug":"canadian-dollars-weaken-as-july-inflation-cools","status":"publish","type":"post","link":"https:\/\/www.ultima-fin.net\/tr\/trade-news\/canadian-dollars-weaken-as-july-inflation-cools\/","title":{"rendered":"Canadian dollars weaken as July Inflation cools\u00a0"},"content":{"rendered":"\n

On Tuesday, Canada\u2019s annual inflation rate dropped to 2.5% in July, aligning with expectations. Despite this, the Canadian dollar weakened slightly, though USD\/CAD slipped 0.1% to close at 1.3620, which was influenced by the significant weakness in the U.S. dollar due to expectations of a potential interest rate cut. <\/p>\n\n\n

\n
\"\"
(USD\/CAD Daily Price Chart)\u00a0<\/figcaption><\/figure><\/div>\n\n\n

(USD\/CAD Daily Price Chart) <\/p>\n\n\n\n

The current inflation rate is now the nearest to the Canadian central bank’s 2% target since it reached 2.2% in March 2021, a time when prices started climbing roughly a year after the onset of the coronavirus pandemic. <\/p>\n\n\n\n

The Bank of Canada has already reduced its policy rate in the last two meetings, lowering it from 5% to 4.5%. As a result, markets anticipate another 25-basis point cut at the upcoming rate announcement on September 4, with the possibility of three additional 25 basis point cuts by year-end. Many economists are also forecasting a similar rate reduction path, which could bring the benchmark rate down to 3.75% by the end of the year. <\/p>\n\n\n

\n
\"\"
(Benchmark interest rate and year-on-year change in CPI inflation)<\/figcaption><\/figure><\/div>\n\n\n

(Benchmark interest rate and year-on-year change in CPI inflation) <\/p>\n\n\n\n

Disclaimer\u202f\u202f <\/p>\n\n\n\n

Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.\u202f <\/p>\n","protected":false},"excerpt":{"rendered":"

On Tuesday, Canada\u2019s annual inflation rate dropped to 2.5% in July, aligning with expectations. Despite this, the Canadian dollar weakened slightly, though USD\/CAD slipped 0.1% to close at 1.3620, which was influenced by the significant weakness in the U.S. dollar due to expectations of a potential interest rate cut.  (USD\/CAD Daily Price Chart)  The current […]<\/p>\n","protected":false},"author":13,"featured_media":8670,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[175],"tags":[152,45,114,88],"class_list":["post-8611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade-news","tag-boc","tag-inflation","tag-interest-rate","tag-usdcad"],"acf":[],"yoast_head":"\nCanadian dollars weaken as July Inflation cools\u00a0 | Ultima Markets<\/title>\n<meta name=\"description\" content=\"On Tuesday, Canada\u2019s annual inflation rate dropped to 2.5% in July, aligning with expectations. 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