The Bank of Canada’s governing council agreed the odds of another rate hike have decreased during its discussions ahead of the interest rate decision earlier this month. The central bank released its summary of deliberations for its Dec. 6 interest rate decision Tuesday, revealing the governing council felt more optimistic about the country’s inflation outlook. Recent data showed the economic slowdown is being driven by a pullback in spending, which the central bank is relying on to bring inflation down. The central bank opted to hold its key interest rate steady earlier this month for a third time in a row, as forecasters widely expect its next move will be to cut interest rates sometime
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