刚刚！降息25基点

Core Viewpoint - The Bank of Canada has lowered its policy interest rate by 25 basis points to 2.5% due to economic pressures and the impact of U.S. tariffs on the economy and labor market, marking the first rate cut since March [2][5][13]. Economic Conditions - The Canadian economy contracted by an annualized rate of 1.6% in the second quarter, primarily due to declines in export activity and business investment, which aligns with the central bank's expectations [9][14]. - Employment has decreased by over 106,000 jobs in July and August, mainly in trade-sensitive sectors, with the unemployment rate rising to 7.1% [9][14]. - Despite a healthy growth pace in consumption and housing, the central bank warns that slowing population growth and a weakening labor market may suppress household spending [10][14]. Inflation and Monetary Policy - The overall CPI inflation rate is at 1.9%, with core inflation indicators around 3%, but the upward momentum for broader inflation pressures is considered to have weakened [4][11][14]. - The central bank has removed previous forward guidance regarding the need for further rate cuts, indicating a cautious approach moving forward [8][15]. - The decision to cut rates is seen as a means to better balance risks in a weakening economy with reduced inflationary pressures [5][15]. Trade and Tariff Impacts - The U.S. tariffs have had a profound impact on key industries such as automotive, steel, and aluminum, contributing to economic strain [11][12]. - The recent decision by the Canadian government to eliminate some retaliatory tariffs on U.S. imports is expected to alleviate upward price pressures on related goods [14].