Bank of Canada cuts key interest rate again, more cuts 'reasonable' if inflation keeps easing.
The Bank of Canada cut its key interest rate to 4.5 per cent on Wednesday, with governor Tiff Macklem saying during a news conference that it would be reasonable to expect further rate cuts if inflation continues to ease.
The cut was widely expected by economists after inflation eased in June. It marked the central bank's second consecutive cut after last month's meeting, when it cut rates for the first time since March 2020.
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