๐ Bank of Canada Lowers Interest Rates to 2.75% ๐จ๐ฆ๐ฐ
The Bank of Canada has reduced its overnight rate to 2.75%, citing economic uncertainty driven by global trade tensions. While Canada entered 2025 with strong growth and inflation near 2%, rising tariffs and slowing US growth are increasing economic risks.
๐น What This Means for You:
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Lower borrowing costs for mortgages & loans ๐ก
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Stronger job growthโthough trade uncertainty looms ๐
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Inflation expected to rise slightly in the coming months ๐
The Bank will continue monitoring inflation and economic trends closely. The next rate announcement is scheduled for April 16, 2025.
https://www.dianebuchanan.ca/bank-of-canada-rate-announcement-mar-12th-2025
