📉 The Bank of Canada has cut its key interest rate to 4.5% from 5%, marking the first reduction since July 2023. During the June meeting, the rate was brought down by 25 basis points to 4.75%, and now it stands at 4.5%. Governor Tiff Macklem mentioned that further rate cuts could be expected if inflation continues to ease. This change could have significant impacts on loans, mortgages, and the economy.
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