Bank of Canada rate cut faces three key risks

Chief economist Douglas Porter analyzes the effects of Bank of Canada's rate cut on the Canadian dollar, housing market, and wage growth. The Canadian dollar remains stable, housing market activity is limited, and wage growth is challenging with a 5.4% increase in June. Unemployment rate rose to 6.4% in June due to student unemployment and layoffs. Markets predict a 60% chance of a rate cut on July 24, but economists expect a hold until September 4.