Governor of the Bank of Canada Tiff Macklem speaks during a news conference on the bank's interest rate announcement in Ottawa, on Wednesday, July 24, 2024. The Bank of Canada will announce its interest rate decision this morning as forecasters expect it to deliver another quarter-point rate cut. THE CANADIAN PRESS/Justin Tang
The Bank of Canada will announce its interest rate decision this morning as forecasters expect it to deliver another quarter-point rate cut.
Encouraged by slowing inflation, the central bank has lowered its policy rate at its last two meetings.
Its key interest rate currently stands at 4.5 per cent and Governor Tiff Macklem has signalled the bank will continue to cut interest rates, so long as inflation continues to ease.
High interest rates have helped reduce price pressures this year, bringing Canada's inflation rate down to 2.5 per cent in July.
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