Commenting on the decision, BOC Governor Tiff Macklem reiterated that “it’s reasonable to expect further cuts” and that policymakers continue to assess the tension between economic weakness, which is putting downward pressure on inflation, and high costs for shelter and some services, which are keeping it elevated. Still, realizing that it's only a matter of time before the BOC pulls off its own Burds Fed, Macklem says inflation may bump up later in the year as base-year effects unwind, and there is a risk that the upward forces on inflation could be stronger than expected, at which point the central bank would of course be forced to abandon its easing campaign, hike rates and also lose all credibility. https://www.zerohedge.com/markets/bank-canada-cuts-rates-third-consecutive-month-says-expect-further-cuts