1506 ET - BMO Capital Markets sticks to a first Bank of Canada rate cut in June, but now says a second reduction won't emerge until September. BMO originally had rate cuts in June and July, on the premise that, historically speaking, the BOC tends to cut rates in back-to-back sessions. BMO says in its week-ending note that its shift is partly explained by the BOC minutes this week, which indicates BOC officials would cut rates on a "gradual" basis. (paul.vieira@wsj.com; @paulvieira)
(END) Dow Jones Newswires
April 26, 2024 15:06 ET (19:06 GMT)
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