Interest rate cut offers relief for some borrowers, but no political reprieve for the PM: politicos

Pollster Nik Nanos says the cut offers some hope for the Liberals because it represents 'a step in the right direction,' while economist Trevor Tombe says conditions point to more cuts this year.

For Prime Minister Justin Trudeau, a rate cut ‘does nothing to help boost caucus support for the leader,’ said former Liberal staffer Olivier Cullen. The Hill Times photograph by Andrew Meade

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BY IAN CAMPBELL

July 25, 2024

The Bank of Canada’s second consecutive interest rate cut is good news for the country, but won’t give Prime Minister Justin Trudeau or his struggling government the kind of political boost they need, says a former Liberal ministerial staffer.

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