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Bank of Canada cuts rates, hails 'good news' on low inflation

The Bank of Canada cut its policy interest rate by half-a-percentage point to manage inflationary targets, stating, "we want to keep it close to the target."
The annual CPI inflation reached the bank’s 2-per-cent target in August 2024 and then fell to 1.6 per cent in September 2024.
The Bank shared that returning to low inflation is "good news for Canadians.

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Inquirer

+2 Reposted by 2 other sources

Bank of Canada cuts rates, says fight against inflation 'worked'

Ottawa, Canada — Canada’s central bank cut its key interest rate by half a point Wednesday, reducing it to 3.75 percent and offering borrowers further relief as it claimed the battle against inflation had proven successful. Canada had held its benchmark rate steady for almost a year at 5.0 percent, the highest level in two

5 months ago·Manila, Philippines

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Victoria Buzz

Bank of Canada drops overnight rate by 50 basis points for first time since pandemic

The Bank of Canada has made yet another cut to its overnight rate. This latest cut is twice the size of the previous cuts at 50 basis points, or 0.5%.

5 months ago

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The Epoch Times

Banks Lower Prime Rates to 5.95% After Bank of Canada Move

Canadian financial institutions say they are lowering their prime lending rates to match the decrease announced by the Bank of Canada. The central bank lowered its key interest rate by half a percentage point Wednesday to 3.75 percent. All of the Big Six banks including RBC, TD, BMO, Scotiabank, CIBC and National Bank say they have lowered their prime rate to 5.95 percent, down from 6.45 percent, as has Desjardins. It marks the fourth consecutiv…

5 months ago·New York, United States

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castanet.net

+14 Reposted by 14 other sources

Banks lower prime rates to 5.95% after Bank of Canada move

5 months ago·Kelowna, Canada

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Al Jazeera

Bank of Canada cuts interest rates, says fight against inflation ‘worked’

The cut on Wednesday, the fourth in a row, was bigger than expected as September inflation sank below target.

5 months ago·Qatar

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Barrie Today

+4 Reposted by 4 other sources

A look at what people are saying about the Bank of Canada's rate decision

OTTAWA — The Bank of Canada cut its key policy interest rate by 50 basis points on Wednesday to bring it to 3.75 per cent (a basis point is equal to a one-hundredth of a percentage point).

5 months ago·Barrie, Canada

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