No, they didn't?! Actually they did.

Well, the world was looking for some positive news, actually Canadians were looking for it and some of our American neighbors as well, but to a lesser extend. And then Tiff Macklem came and basically blasted the bubble of hope!

Or did he? What happened? Well, despite many experts and analysts alike hoping and believing, that the Bank of Canada (BoC) would lower the overnight lending rate, it didn't happen. In the remarks - minutes -  there is some sort of indication, that the rates could be lowered earlier than expected and there is some evidence to support that, but the inflation numbers aren't quite where the BoC would like them to be and they will be cautious to not rock the boat and have inflation ramp up again.

So far the Canadian economy seems to be doing fine and most likely will avoid a recession or may have only a small recession, which does give the bankers hope, that they can hang on to the higher interest rate for a little bit longer. I for one believe, that slightly lower interest rates than the current level would be helpful to bring Canada back into growth mode. This vast country with its sheer unlimited potential needs to start firing on all cylinders again in order to tackle some of the more generational problems of an aging population, overcrowded hospitals and lack of skilled professionals.