The Globe and Mail reports in its Wednesday edition that on Wednesday, the Bank of Canada is expected to cut interest rates, potentially by a jumbo half-percentage point. The Globe's guest columnist Carl Gomez writes that while the BOC has typically opted for smaller quarter-point cuts recently, the current rate of 4.25 per cent remains above the neutral level. Many believe a larger cut is necessary to better support the economy. The inflation concerns that global central banks faced postpandemic have largely diminished, particularly in Canada, where headline inflation was just 1.6 per cent in September, below the BOC's 2-per-cent target. As global supply chains recover, many consumer goods prices are decreasing, with housing being the primary factor still pushing overall inflation upward. Housing inflation, however, is being artificially propped up at the moment. The BOC should account for distorted housing costs, as inflation is only 0.4 per cent as of September. This is below the BOC's target and risks deflation. The bottom line is that with inflation dead, Canada's economy is in need of sharper interest-rate cuts. To get ahead of the curve, the BOC should consider even bigger cuts than half a percentage point.