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  • Bank of Canada reduces policy rate by 25 basis points to 4½%

    From bankofcanada.ca

    The Bank of Canada today reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is continuing its policy of balance sheet normalization. The global economy is expected to continue expanding at an annual rate of about 3% through 2026. While inflation is still above central bank targets in most advanced economies, it is forecast to ease gradually. In the United States, the anticipated economic slowdown is materializing, with consumption growth moderating. US inflation looks to have resumed its downward path. In the euro area, growth is picking up following a ... (full story)

Added at 9:53am

  • Bank of Canada cuts key interest rate to 4.5%

    From globalnews.ca

    The Bank of Canada cut its benchmark interest rate by a quarter of a percentage point on Wednesday, the second straight reduction in the central bank’s easing cycle. The Bank of Canada’s policy rate, which broadly informs the cost of borrowing across the country, now stands at 4.5 per cent. The move was widely expected by economists as inflation continues to cool and the Canadian economy shows signs of weakness. The Bank of Canada’s interest rate easing cycle kicked off in June with a 25-basis-point cut. Since the central bank began raising its policy rate in March 2022, elevated interest rates have ratcheted ... (full story)

This is political to prop up the dying liberal administration.
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