Bank of Canada Lowers Key Rate to 4.75 Percent, Expresses ‘Confidence’ Inflation Will Continue Slowing
The global economy also grew by about 3 percent in the first quarter of 2024, according to the Bank. The United States saw its economy grow slower than expected due to weaknesses in exports and inventories
OTTAWA—The Bank of Canada has slashed interest rates for the first time in more than four years, bringing its key rate to 4.75 percent.
Canada’s central bank reduced its 5 percent benchmark interest rate by 25 basis points June 5, claiming its monetary policy no longer needs to be as restrictive. ---More...
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