Bank of Canada cuts key interest rate to 4.25%

Canada central bank cuts key lending rate to 4.25%

Read: 2 minThe Bank of Canada on Wednesday lowered its key lending rate by a further 0.25 percentage points, to 4.25 per cent, amid signs of a softening economy and lower inflation.It is the third consecutive cut by the central bank, after the economy showed signs in June and July of slowing, and inflation fell to 2.5 per cent — within the bank’s target range.The bank had previously maintained the rate at 5.0 per cent for nearly a year — its hi…

Interest Rate Cut Welcome News for Homeowners With Variable-Rate Mortgages

Real estate experts say the Bank of Canada’s third consecutive interest rate cut will be cheered by those with variable-rate mortgages, but it could still be a while yet before lower borrowing costs translate into a meaningful boost to sales activity. “It’s good news that the Bank of Canada is continuing to lower the overnight rate, though we are not likely to see the effects in the housing market for quite some time,” said Ratesdotca mortgage a…

Bank of Canada cuts rates, indicates bigger cut possible

The central bank said it now needs to guard against the risk that the economy is too weak.

Bank of Canada cuts key interest rate again, bringing it to 4.25%

The Bank of Canada cut its key interest rate by 25 basis points on Wednesday, bringing it to 4.25% and marking the central bank’s third consecutive decision to do so over the past year.  “The global economy expanded by about 2½% in the second quarter, consistent with projections in the Bank’s July Monetary Policy Report,” reads a statement from the Bank of Canada. The Canadian economy grew by 2.1% in the second quarter, driven by government spen…

Bank of Canada signals further cuts as interest rates fall to 4.25%

Latest reduction comes amid weak growth and pressures on housing affordability