06/06/2024
For the first time in 4 years the Bank of Canada 🏦 has cut interest rates 📉 by 25 basis points (0.25%) to 4.75%
The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization.