Bank of Canada delivers 1st interest rate cut since March | FULL
Автор: Global News
Загружено: 2025-09-17
Просмотров: 7472
Borrowing costs are coming down for some Canadians after the Bank of Canada delivered its first interest rate cut since March, lowering its overnight benchmark by 25 basis points from 2.75 per cent to 2.5 per cent.
Bank of Canada Governor Tiff Macklem said Wednesday the risks have shifted since the central bank’s last interest rate decision in July.
Earlier signs of underlying inflation pressure are fading as cracks in the labour market and a sharp drop in exports threaten growth, he said.
Macklem said under the current tariff regime, the Bank of Canada is not expecting a recession but that growth is expected to slow to 1 per cent in the second quarter.
“That is slow growth. It’s not going to feel good. It is growth, but it’s slow growth, because the Canadian economy is adjusting to a different relationship with its biggest trading partner.”
The Bank of Canada’s next rate decision is scheduled for Oct. 29.
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