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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.
A snowman melting in a backyard

March-cember continues!

The spring-like conditions continue Friday with a high of 6 glorious degrees; that’s ten degrees above normal.  Saturday has all the hallmarks of a messy—potentially slippery—day with rain starting late in the morning, turning to a rain-snow mix late in...

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