Thu. Dec 5th, 2024

Bank of Canada cuts interest rate to 4.75%

Bank of Canada cuts interest rate to 4.75%

For the first time in four years, interest rates are coming down. The Bank of Canada cut its key rate by a quarter of a percentage point, to 4.75 per cent.
As Michelle Ghoussoub reports, the move will provide some relief to Canadians whose mortgages are up for renewal.

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