Officials say there's been “modest further progress” toward the 2% inflation target
Bets are now leaning toward a first cut in September in the U.S.
Easing financial pressures are expected to slow decline in credit quality, boost loan demand
High rates, cautious consumers driving insolvency trends
Weakening economy and high interest rates push businesses to rein in hiring
Corporate and government borrowing hits highest level since pandemic
Hard-hit sectors likely to feel the brunt of a decline in cheap labour
Analysts say the quarter-point cut is unlikely to usher in a swift series of further cuts
Most banks lowered their prime rates to 6.95% following the announcement
Governor says if inflation continues to ease, it is reasonable to expect further cuts