EJQ2 - Fall 2024 - Journal - Page 28
General Market Commentary
THE BANK OF CANADA once again cut its key interest rate on September
4, 2024, by 25 basis points, landing at 4.25%. With continued easing in
broad in昀氀ationary pressures, the Governing Council decided to reduce
the policy interest rate as the Bank remains resolute in its commitment to
restore price stability for Canadians.
In other news, we are seeing some big projects take o昀昀 in the hydrogen
space in Western Canada. UK-based Linde has signed a long-term
agreement for the supply of clean hydrogen to Dow’s Fort Saskatchewan
Path2Zero Project in Alberta. The company will invest more than $2
billion to build, own and operate a world-scale integrated clean hydrogen
and atmospheric gas facility. FortisBC Energy Inc. and VulcanX Energy
Corp. have signed a funding agreement to support the development of
hydrogen pyrolysis technology that would see zero-emission hydrogen
and solid carbon produced from natural gas at a low cost.
E N V I RON M E N T J OURN A L QUA RT E RLY RE PORT • FA L L 2 02 4 • P AGE 2 8
