Institution: If there are no major surprises in inflation data, the Bank of Canada will lower the policy interest rate next week

Karl Schamotta, Chief Market Strategist of the foreign exchange company Corpay, said that unless there is a major unexpected change in inflation data, the Bank of Canada may cut its policy interest rate next week to address the weak labor market and signs of slowing U.S. demand. He stated that traders expect a 75% chance of a 25 basis point rate cut on September 17th.