The Globe and Mail reports in its Monday edition that the Bank of Canada is expected to implement another significant interest rate cut on Wednesday. The Globe's Mark Rendell writes that while inflation is under control, BOC officials have indicated a desire to continue lowering rates. Recent weak economic data, including a rising unemployment rate, have shifted market expectations toward another half-percentage-point cut, with an 85-per-cent likelihood according to interest-rate swap markets. Most analysts, including those from Canada's major banks, also expect this move, which would cut the policy rate from 3.75 per cent to 3.25 per cent. In October, annual Consumer Price Index inflation met the BOC's 2-per-cent target and has remained within the control range all year. However, GDP growth fell short of forecasts in the third quarter, and the unemployment rate rose to 6.8 per cent in November, the highest since January, 2017, outside of the pandemic. RBC economist Nathan Janzen says, "Essentially it looks like inflation is back under control, the economy is much softer and the trend has been continuing to soften, and yet we still have a restrictive level of interest rates with the overnight rate still historically high."