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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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