Reported 4 months ago
The Bank of Canada has cut interest rates by 25 basis points to 4.75%, signaling more cuts to come. Governor Tiff Macklem and policymakers are confident in inflation heading towards the 2% target, mentioning possible further cuts if progress continues. The decision marks the first rate cut since 2020, showing a shift towards declaring victory over inflation and starting to normalize interest rates.
Source: YAHOO