Bank of Canada reduces key interest rate

The Bank of Canada announced today a reduction in its key interest rate to 4.5%. Governor Tiff Macklem indicated during a news conference that further cuts may be considered if inflation continues to decline.

Concerns arose in May when inflation climbed to 2.9%, leading to doubts about potential rate cuts in July. However, June’s inflation report showed a decrease to 2.7%, indicating a stabilization in price pressures.

Analysts are now speculating that the Bank of Canada could pursue additional rate cuts based on these recent developments.

Loads of money.
Neon Sign Museum at night

Chilly Start with Milder Days on the Horizon

Cooler-than-usual conditions will persist today with cloudy skies and a chance of flurries. Overnight, light snowfall is expected before skies clear by morning. Sunshine will return Tuesday, helping temperatures climb closer to seasonal norms. The warming trend is set to...

Read More >>