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The Bank of Canada lowered its key interest rate to 4.25 per cent on Wednesday, the third consecutive cut since June.
This is central bank’s 3rd consecutive rate cut
Bank of Canada governor Tiff Macklem and senior deputy governor Carolyn Rogers are speaking after the bank’s latest policy rate announcement.
The Bank of Canada lowered its key interest rate to 4.25 per cent on Wednesday, the third consecutive cut since June.
The central bank said the reduction comes after “continued easing in broad inflationary pressures.”
In July, Canada’s annual inflation rate dropped to 2.5 per cent, down from 2.7 per cent in June, Statistics Canada said in August. It’s the lowest it has been since March 2021, when inflation began to climb amid pandemic pressures and supply disruptions.
