is your go-to online destination for comprehensive coverage of major news across Asia. From politics and business to culture and technology, we bring you the latest updates, deep analyses, and critical insights from every corner of the continent. Featuring exclusive interviews, high-quality photos, and engaging videos, we keep you informed on the breaking news and significant events shaping Asia. Stay connected with us to get a 24/7 update on the most important stories and trends. Our daily updates ensure that you never miss a beat on the happenings in Asia's diverse nations. Whether it's a political shift in China, economic development in India, technological advancements in Japan, or cultural events in Southeast Asia, has it covered. Dive into the world of Asian news with us and stay ahead in understanding this dynamic and vibrant region.


  • Owner: SNOWLAND s.r.o.
  • Registration certificate 06691200
  • 16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
  • Czech Republic

Bank of Canada cuts rates, economists predict another reduction next month

The Bank of Canada on Wednesday trimmed its key policy rate by 25 basis points to 4.75%, in a widely expected move that marked its first cut in four years, and said more easing was likely if inflation continued to ease.

Economists immediately predicted the BoC would cut again in July.

After keeping interest rates at a more than two-decade high of 5% for almost a year, the BoC said the indicators for underlying inflation looked increasingly positive.

"With further and more sustained evidence underlying inflation is easing, monetary policy no longer needs to be as restrictive," Governor Tiff Macklem said in his opening remarks after the announcement.

Financial markets, however, priced in a 35% chance of a cut to 4.50% next month. A majority of economists polled by Reuters had expected Wednesday's cut.

The Canadian dollar pared its early gains and weakened by 0.4% to 1.3733 to the U.S. dollar, or 72.98 U.S. cents after the decision.

The BoC joins Sweden's Riksbank and the Swiss National Bank in bringing down rates that have burdened households and businesses alike, and muted economic growth amid easing price pressures.

The European Central Bank is most likely to follow suit on Thursday, financial markets foresee.

Inflation in Canada has slowed this year to hit a three-year low of 2.7% in April. While inflation has stayed below 3% for four months in a row, it is still higher than the Bank's 2% target.

"If inflation continues to ease, and our confidence that inflation is headed sustainably to the 2% target continues to increase, it is reasonable to expect further cuts to our policy interest rate," Macklem said in an indication of what future reductions could look like.

"But we are taking our interest rate decisions one meeting at a