The Bank of Canada has become the first G7 country to cut its key policy interest rate. The country's Central Bank moved the cash rate down to 4.75 per cent from five per cent, even though inflation remains outside the target range. It has many wondering when other central banks will follow. The European Central Bank (ECB) is widely tipped to cut its interest rates. However, it doesn't seem Australia is there yet, with the Reserve Bank standing firm on the belief that rates could go either way. Andrew McAuley from UBS Global Wealth Management, Australia says the trend is going in the right direction but maintains central banks can't claim victory just yet.
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