Thu. Dec 5th, 2024

Reaction to Bank of Canada cutting interest rate again with signals more cuts ahead

Reaction to Bank of Canada cutting interest rate again with signals more cuts ahead

The Bank of Canada delivered its third consecutive interest rate cut today, bringing its key lending rate to 4.25 per cent.

The quarter percentage point rate cut was widely expected by forecasters, given ongoing softness in the economy and easing inflation.

In his written remarks, governor Tiff Macklem says the central bank is encouraged by the ongoing slowdown in price growth and now wants to see economic growth pick up again.

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