On September 15, the Bank of Canada Governor hinted at the possibility of accelerating interest rate cuts amid growing concerns over economic growth.

The Governor suggested that policymakers could consider a significant 50 basis point rate cut if economic growth disappoints. The country’s economy grew at an annualized rate of 2.1% in the second quarter, but there is growing concern that falling oil prices, rising unemployment, and declining immigration levels could push Canada towards stagnation.

Rate setters are increasingly worried about Canada's labor market and the potential impact of lower oil prices on the economy.