Category: Canada

Bank of Canada, 0.50 cut: interest rate at 3.75%

TORONTO – The long-awaited “robust cut” in interest rate has finally arrived: 0.50. In fact, the Bank of Canada announced today the change in the rate from 4.25% to 3.75%. The half percentage point cut is the fourth consecutive cut by the central bank, after inflation fell from 2.7% in June to 1.6% in September, but it is the first of 0.50: the previous ones were all 0.25.