📉 Bank of Canada Cuts Interest Rate to 3.75% 📉
The Bank of Canada has reduced its overnight rate to 3.75% in a move to support economic growth and keep inflation close to its 2% target.
With inflation easing, lower global oil prices, and excess supply in the economy, the outlook is stabilizing. The Canadian economy is forecasted to grow steadily through 2024-2026, supported by lower rates and stronger demand.
https://www.dianebuchanan.ca/bank-of-canada-rate-announcement-oct-23rd-2024
